Monte Rosa Sports Holding has acquired Swiss-based apparel specialist ODLO International and its subsidiaries from Herkules Fund III. The transaction closed on Wednesday, May 13th, 2020. Financial terms of the deal were not disclosed.
ODLO International is a Swiss company with Norwegian roots. Founded in 1946, ODLO is a ‘pioneer of the three-layer principle and inventor of sports underwear.’ Since 1986, ODLO’s headquarters have been based in Hünenberg, Switzerland, with approximately 800 employees across multiple locations.
ODLO offers performance sportswear in six categories: functional sport underwear, running, training, cycling, cross-country skiing and outdoor. The ODLO brand is distributed worldwide in more than 35 countries. ODLO claims to be market leader within functional sports underwear in Germany, Switzerland, France, Austria and Italy.
Monte Rosa is owned by Hugo Maurstad and Christian Casal. Hugo Maurstad has led a number of investments in the branded sport and leisure industry, including Rossignol Group (Rossignol, Dynastar, Lange, Look), Helly Hansen, Navico (Simrad, B&G, Lowrance), SATS, XXL Sport Retail and Dale of Norway.
Maurstad is a Norwegian citizen, previously resident in Switzerland. Christian Casal is the former Head of McKinsey Switzerland and brings corporate and turnaround experience. Casal is a Swiss national and resident.
Monte Rosa’s Hugo Maurstad said “We see many similarities between the Helly Hansen and Rossignol investments and ODLO International. The company has a fantastic starting point with a globally recognized brand and strong position in its core markets and segments.
“We believe bringing ODLO back to its core roots and focus will fortify ODLO’s position as the leading outdoor base layer company in Europe. The management team has done a formidable job in preparing the company for the next phase and we believe we can support the company in delivering profitable growth over the next years.”
Knut Are Høgberg, CEO of ODLO International said “We are proud to see, that even in the current challenging business environment, the underlying strong momentum of the ODLO brand has been appreciated by our new owners. We warmly welcome Monte Rosa to the ODLO team and onto our quest – more relevant than ever – to inspire consumers to an active life in the outdoors.”
