E-commerce specialist Online Brands Nordic AB has acquired Nordic Kidswear AB, including its outdoor kidswear brand Isbjörn of Sweden.
Founded by Maria Frykman and Camilla Schmidt in 2005, Isbjörn of Sweden manufactures sustainable outdoor clothing and accessories for kids and teens.
Online Brands Nordic AB will initially pay approximately $4 million, divided 50/50 into cash and newly issued shares in the buying company. Additional performance cash payments during 2022, 2023 and 2024 will be a maximum of $3.7 million, equating to a total price of $7.9 million.
Maria Frykman, who will continue as CEO at Isbjörn, said, “We look forward to continuing Isbjörn’s mission to make the most sustainable and long-lasting outdoor clothing for children and teenagers, together with Online Brands Nordic. With a financially strong and digitally experienced owner, we can further develop Isbjörn into a leading global player within our sector. We can continue to take our product offering and sustainability strategy to the next level, securing the ambitious goals we have set for the company. The combined experience of entrepreneurship and international e-commerce that exists 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 Isbjörn.”
Isbjörn of Sweden is a global omnichannel company that sells to more than 20 markets, including Europe, North America and Japan, via select retailers and online. The company recently outlined its sustainability goal, including Net Zero targets, to be microplastic-free and a fully circular brand.
Magnus Skoglund, CEO, Online Brands Nordic AB: “We look forward to further developing Isbjörn in the global marketplace and are excited to welcome Isbjörn of Sweden to the Online Brands Nordic family. Founders Maria and Camilla have made an outstanding effort in developing Isbjörn into a leading outdoor brand specializing in sustainable and functional clothing for children and teenagers. The brand is at the forefront of using the most sustainable materials and production processes, and we look forward to working closely with the Isbjörn team to develop and grow the brand, sharing our valuable knowledge on this inspirational journey.”