Active Brands of Norway has made another acquisition as part of its strategy to become a major supplier of outdoor products in the Nordic countries. This time it has taken over Nanok, a specialist Norwegian brands of sleeping bags and tents made in the Far East.
Nanok, which will have its own stand at the OutDoor show in Friedrichshafen today, is a small company run by three people with annual sales of about 10 million Norwegian kronor (€1.3m-$1.8m), but it has a lot of potential. It was founded in 2002 by former executives of Ajungilak, the Norwegian brand of sleeping bags acquired by Mammut. They have sold Nanok to Active Brands in exchange for a small shareholding in the company, and they will continue to run it.
The acquisition should help improve Nanok's customer base in the Nordic countries and elsewhere. Nanok, which already has a few clients in German and France, will be integrated into Åsnes Sport, a unit of Active Brands that groups its outdoor and snow sports brands, to help achieve the goal of becoming the leading and preferred Norwegian and Nordic supplier of premium branded sports products in the sector.
In line with this program, last year Active Brands took over Skigutane, which took over the Åsnes brand of mountain skis in 2006 and which owns Kari Traa, a brand of women's sports apparel. Active Brands also has the right to distribute Bula hats in Norway. At the beginning of this year, it took over the skiwear company of Bjørn Dæhlie, the famous Norwegian cross-country ski champion, from a big Norwegian investment fund, Katalysator, that previously owned Rottefella and Hamax. Dæhlie acquired a stake in Active Brands in the process.
Run by Simen Mørdre, a former executive of Helly Hansen, Active Brands now has an annual turnover of around NOK 400 million (€51.7m-$73.0m). It is controlled by another Norwegian investment company, Halta Invest.