Online Brands Nordic AB intercepts Isbjörn of Sweden
Polar Bear of Sweden was founded by Maria Frykman and Camilla Schmidt in 2005 and is a global omnichannel company that sells to more than 20 markets, including Europe, North America and Japan, via strategically selected retailers as well as its own e-commerce and marketplaces.
The company recently presented its sustainability promise, which includes a net zero goal, to become completely microplastic-free and to become a completely circular brand. It is estimated to have sales of SEK 37 million (USD 3.9 million) so far at the end of April 2022 – an annual increase of 15% EBITDA.
Online Brands Nordic AB will initially pay SEK 40 million, divided 50/50 into cash and newly issued shares in the purchasing company. Additional performance payments during 2022, 2023 and 2024 will be a maximum of SEK 35 million, which corresponds to a total purchase price of SEK 75 million.
Maria Frykman, who will continue as CEO of Isbjörn, says: “We look forward to continuing Isbjörn’s mission to work with Online Brands Nordic to make the most sustainable and sustainable outdoor clothing for children and teenagers.
“With a financially strong and digitally experienced owner, we can further develop Isbjörn 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. ”
Magnus Skoglund, CEO of Online Brands Nordic AB, adds: “Founders Maria and Camilla have made an outstanding effort to develop Polar Bear into a leading outdoor brand that specializes in sustainable and functional clothing for children and teenagers. The brand is at the forefront when it comes to using the most sustainable materials and production processes and we look forward to working closely with the Polar Bear team to develop and grow the brand and share our valuable knowledge on this inspiring journey. ”