Helly Hansen has been passed on into Canadian hands to pursue expansion in North America. The Norwegian sports clothing producer has been sold to Ontario Teachers pension fund for 2 billion Norwegian crowns (roughly 270 million euro).
Aiming for American expansion
Helly Hansen is famous for its clothing for winter sports and sailing. The former owner, the Swedish investment society Altor, has kept on to 25% of Helly Hansen's shares, while 75% of the Norwegian company is now in the hands of Canadian pension fund Ontario Teachers'.
The takeover enables Helly Hansen to pursue expansion outside Europe, mainly in North America. In 2006, Altor took over Helly Hansen and made the company profitable again. The Norwegian company was founded in 1877 and employs 500 people. Last year its turnover was 1.6 billion Norwegian crowns, slightly over the 200 million euro mark.
Translation by Sanne Raspoet