By  on December 23, 2018

Acne Studios said it will sell up to a 41 percent stake to private equity firm IDG Capital and I.T Group, confirming earlier WWD reports it was seeking buyers. Following the sale, founders Mikael Schiller and Jonny Johansson will retain a majority of the company’s shares.

IDG Capital intends to take up to 30.1 percent of the company, subject to regulatory approval, but no less than 25.1 percent. I.T Group will purchase a 10.9 percent share, paying 486.3 million Swedish krona, or $53.8 million at current exchange. The two buyers agreed to pay 1,297 Swedish krona or $143 at current exchange per share.

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