The new owner of Henri-Lloyd has revealed its future plans for the sailing and lifestyle brand that counts Kate Middleton and Sir Ben Ainslie among its fans.
Switzerland-based sport and outdoor clothing ODLO, which is owned by Monta Rosa Capital, has snapped up the Manchester-based business for a "substantial" undisclosed sum. The deal is expected to be completed "shortly".
Henri-Lloyd last changed hands when it collapsed into administration in June 2018 and was sold to Aligro UK in a move that led to 128 jobs being cut.
READ MORE: Click here to sign up to the BusinessLive North West newsletter
The brand was established in 1963 and currently has 85 members of staff in its UK retail business.
Chairman Hans Eckerström said: "The acquisition of Henri-Lloyd by ODLO opens up tremendous opportunities for the brand to reach its true potential to the benefit of all shareholders, both current and future.
"Joining a family of successful companies that share values and goals will accelerate our growth. Most importantly that journey will be based on quality, innovation and striving for sustainability – principles that the Henri-Lloyd team hold dearly."
Henri-Lloyd was founded by Henri Strzelecki and currently has partnerships with the likes of the GBR Sail GP Team and INEOS Britannia.
The Henri-Lloyd team will continue to be located in Manchester.
ODLO chairman Hugo Maurstad added: "We are excited about including Henri-Lloyd into our family of brands. It is an iconic brand with a proud history. Together we aspire to further expand its product range and geographic footprint.
"Henri-Lloyd and ODLO are both companies that originated from technical innovations in outdoor sport apparel and they will complement each other going forward."
ODLO chief executive Knut Are Høgberg said: "By leveraging ODLO’s comprehensive infrastructure, we can concentrate investments towards the Henri-Lloyd brand and its customers while progressing on the ambitious sustainability agenda of all brands within ODLO International.
"We warmly welcome the Henri-Lloyd team to the ODLO family and look forward to working together going forward."
Taylors Solicitors advised the owner of Henri-Lloyd on the deal.
READ NEXT:
-
Growth eyed by fledgling firm after going viral on TikTok and winning celebrity fans
-
Liverpool venue Alma De Cuba owed more than £9m as it collapsed into administration
-
Uber UK and Moneybox chair to help lead technology company after US private equity firm deal
-
University of Manchester prevented from licencing technology to Chinese company
-
Co-op to cut 400 jobs because of 'tough trading environment'
