Online Brands Nordic AB intends to acquire Nordic KidsWear AB, manufacturer and marketer of the children’s outdoor clothing brand Isbjörn of Sweden. According to a corresponding announcement, the purchase price for the shares in Nordic KidsWear would be paid through a cash purchase price of approximately SEK 17.9 million (about €1.7m), the issuance of 597,165 shares in Online Brands and a possible additional purchase price depending on the development of Nordic KidsWear in 2022-2024. Completion of the acquisition is subject to shareholders holding at least 95 percent of Nordic Kidswear’s shares reaching an agreement to sell to the company.
Nordic KidsWear and Isbjörn of Sweden, established in 2005 by Maria Frykman and Camilla Schmidt, have developed over the past 16 years into a global omnichannel company selling in more than 20 markets primarily through strategically selected retailers as well as through its own e-commerce and marketplaces. The company’s sales in fiscal 2021/22 are expected to be approximately SEK 39 million (€3.7m), with an Ebitda result of approximately SEK 4.3 million (€410,000). The Isbjörn of Sweden brand is primarily known for its sustainable, environmentally friendly outdoor and ski clothing for children and young people and occupies a niche through this specialization. The founders’ main focus is that the long-lasting and durable clothing can be passed on to several children without wearing out.
“We look forward to developing Isbjörn together with Maria and Camilla in the coming years, sharing the founders’ valuable knowledge with the entire group,” said Magnus Skoglund, CEO of Online Brands. Maria Frykman, CEO of Nordic KidsWear AB, commented, “With a strong owner backing us, we can continue to focus on taking our current sustainability strategy to the next level and securing the environmental goals we have set for the company for the future. The combined experience in entrepreneurship and international e-commerce that Online Brands brings will be a fantastic addition to our company.”
Online Brands Nordic AB - based in Gothenburg and traded on the Nasdaq First North Growth Market - specializes in acquiring, owning and developing e-commerce companies in the Nordic region. The group includes online business Trendcarpet, which is one of Europe’s leading carpet retailers, an international e-commerce business for hats under the Hatshop brand and jewelry store John Victorin in Varberg.