Helly Hansen acquires Musto in a bid to accelerate its growth
Helly Hansen is to buy Musto having signed a definitive agreement with its owners Phoenix Equity Partners and other shareholders.
The acquisition is aimed at propelling Helly Hansen into becoming a global leader in professional sailing clothing, complementing its existing position in skiing apparel and enhancing its presence in the UK outdoor market.
“Musto accelerates Helly Hansen's long-term aspiration to become a global leader in sailing, matching our leadership position in professional skiing,” said Paul Stoneham, Helly Hansen CEO. “Our focus will be to expand Musto internationally as an iconic British lifestyle brand with deep technical sailing credentials alongside Helly Hansen.
“The two brands are highly complementary and hold in common a deep regard for the sailing community and commitment to preserving our oceans.”
In early 2015, Helly Hansen developed a new long-term growth strategy based on the ethos that it ‘makes professional grade gear to help people stay and feel alive’.
Over the last three years, the company has invested in brand and product development, while focusing its core product offering and enhancing distribution channels.
The company says it will invest in Musto’s international growth ambitions as well as its technological and sourcing capabilities.
Peter Smith, Musto CEO, will continue to lead the business, reporting to Mr Stoneham who will also become executive chairman of Musto.
“This is an incredibly exciting next phase in Musto’s evolution and we are invigorated by the prospect of working with a business as complementary to our own as Helly Hansen,” said Mr Smith. “We look forward to leveraging Helly Hansen’s global network and R&D capabilities as we grow our market leading position in sailing, country and outdoor apparel.”
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