GREAT OUTDOORS: In a marriage of two European outdoor performance brands, Helly Hansen has said it plans to acquire Musto, the British specialist sailing and country apparel company, from Phoenix Equity Partners and other shareholders. The terms of the deal were not disclosed.
The Norwegian Helly Hansen, which specializes in sailing and skiwear, climbing and mountaineering gear, said the purchase will allow it to become a global leader in professional sailing apparel and expand its reach in the U.K.
Musto has two British Royal Warrants and is the official supplier to the British National Sailing Team and the British Equestrian Federation through the 2020 Tokyo Olympic Games.
The acquisition is part of a long-term growth strategy set out by Helly Hansen in 2015 that has seen the brand invest in product development and enhance distribution channels. Helly Hansen said it plans to invest in Musto’s international growth ambitions and deepen its technological and sourcing capabilities.
Peter Smith, chief executive officer of Musto, will continue in his role, and report to Paul Stoneham, his counterpart at Helly Hansen, who will also become executive chairman of Musto.
“Our focus will be to expand Musto internationally as an iconic British lifestyle brand with deep technical sailing credentials alongside Helly Hansen. The two brands are highly complementary and hold in common a deep regard for the sailing community and commitment to preserving our oceans,” said Stoneham.
Smith said Musto is invigorated by the prospect of working with Helly Hansen. “We look forward to leveraging Helly Hansen’s global network and R&D [research and development] capabilities, as we grow our market leading position in sailing, country and outdoor apparel.”
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