Online Brands Nordic AB acquires the children’s clothing brand Isbjörn Of Sweden
The e-commerce specialist Online Brands Nordic AB has acquired Nordic Kidswear AB, including its outdoor children’s clothing brand Isbjörn of Sweden.
Polar Bear of Sweden was founded by Maria Frykman and Camilla Schmidt in 2005 and manufactures durable outdoor clothing and accessories for children and teenagers.
Online Brands Nordic AB will initially pay approximately $ 4 million, divided 50/50 into cash and newly issued shares in the purchasing company. Additional cash payments in 2022, 2023 and 2024 will be a maximum of $ 3.7 million, corresponding to a total cost of $ 7.9 million.
Maria Frykman, who will continue as CEO of Isbjörn, said: “We look forward to continuing Isbjörn’s mission to make the most sustainable and sustainable outdoor clothing for children and teenagers, together with Online Brands Nordic. With a financially strong and digitally experienced owner, we can further develop Polar Bear into a leading global player in our sector. We can continue to take our product offering and sustainability strategy to the next level and secure the ambitious goals we have set for the company. The combined experience of entrepreneurship and international e-commerce available within Online Brands will be a game-changing addition to our company. I am honored to continue as CEO and our dedicated team on this exciting next step for Polar Bear. ”
Polar Bear of Sweden is a global omnichannel company that sells to more than 20 markets, including Europe, North America and Japan, via selected retailers and online. The company recently described its sustainability goal, including the Net Zero goal, to be microplastic-free and a completely circular brand.
Magnus Skoglund, CEO, Online Brands Nordic AB: “We look forward to further developing Polar Bear in the global market and are pleased to welcome Polar Bear of Sweden to the Online Brands Nordic family. Founders Maria and Camilla have made an outstanding effort to develop Polar Bear to a leading outdoor brand specializing in durable and functional clothing for children and teens.The brand is at the forefront of using the most durable materials and production processes, and we look forward to working closely with the Polar Bear team to develop and grow the brand and share with us our valuable knowledge on this inspiring journey. ”