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Björn Borg acquires operations in Finland

Wednesday, 13 February 2013
Clothing company, Björn Borg is acquiring the operations in Finland from the current distributor, Fashion Case Oy, owned by Anne Immonen.

In a press release, the company writes that the brand currently has a strong position in the Finnish market, and the company sees potential for continued growth. After the acquisition, Björn Borg will become the principal owner, while a local partner will become a minority owner.

Björn Borg describe the busines as that it is acquiring the Finnish distribution operations, which currently consist of wholesaling of underwear, sportswear and bags as well as a Björn Borg store. The Björn Borg Group is already established in the country through its own footwear distribution. The operations have developed positively since the brand was launched in the country in the late ’90s, and Finland today is Björn Borg’s sixth largest market.

Total purchase price is approximately Skr 9.1 million. Björn Borg estimates that the acquired Finnish operations will contribute positively to the Group’s operating profit in 2013. In 2012, the Finnish operations had a turnover of approximately Skr 31.6 million with an operating profit of about Skr 1.7 million.

“The Nordic region is our natural home market, and Finland plays an important role there in our continued expansion. The brand is especially strong in underwear, and we see good opportunities to develop other product areas as well, especially since the Finnish retail market is showing greater stability than many other European markets. Now that we have the opportunity to acquire these operations from our distributor in Finland together with an experienced local partner, we see it as a good opportunity for Björn Borg,” says Arthur Engel, CEO of Björn Borg to the press release.
Scancomark.com Team

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