E-commerce specialist Online Brands Nordic AB has acquired Nordic Kidswear AB, including its premium and sustainable outdoor kids wear brand Isbjörn of Sweden.
Established by Maria Frykman and Camilla Schmidt in 2005, Isbjörn of Sweden has an unparalleled reputation for producing highly durable yet sustainable outdoor clothing and accessories for kids and teens. Isbjörn has experienced strong global growth in recent years.
Online Brands Nordic AB will pay Swedish krona 40 million (about $4.2 million), divided 50/50 into cash and newly issued shares in the buying company. Additional performance cash payments during 2022, 2023 and 2024 will be a maximum of Swedish krona 35 million, equating to a total purchase sum of Swedish krona 75 million (about $7.8 million).
Frykman, who will continue as CEO at Isbjörn, said, “We look forward to continuing Isbjörn’s mission to make the most sustainable and long-lasting outdoor clothing for children and teenagers, together with Online Brands Nordic. With a financially strong and digitally experienced owner, we can further develop Isbjörn into a leading global player within our sector.
“We can continue to take our product offering and sustainability strategy to the next level, securing the ambitious goals we have set for the company,” she continued. “The combined experience of entrepreneurship and international e-commerce that exists within Online Brands will be a game-changing addition to our company.”
Isbjörn of Sweden is a global omnichannel company that sells to more than 20 markets, including Europe, North America and Japan, via selected retailers as well as its own e-commerce and marketplaces. The company recently outlined its sustainability pledge which includes bold Net Zero targets, going completely microplastic-free and becoming a fully circular brand.