Dale of Norway has reached an agreement to be acquired by Altor, the private-equity firm that has owned Rossignol Group since 2013.
Terms were not disclosed. The deal is expected to close by the end of the year.
The seller is Hilde Midthjell, who made her first fortune in the cosmetics business in Norway and then invested in Dale in 2009. The Rossignol Group has been majority owned by the Nordic focused Altor since 2013.
Regarding Dale of Norway, the French-based Rossignol plans to “preserve its brand name and its Norwegian image.” Dale of Norway will continue to be based in the small community of Dale in Vaksdal, between Bergen and Voss. Rossignol plans to transfer production of its own knitwear to Dale.
