Swix Sport AS has acquired Elite Sport AS. Swix is fully owned by the Ferd group, is one of Norway’s leading privately owned businesses.

Elite Sport AS operates as a supplier of clothing and accessories to sporting goods retailers. The company has three established brands:

  • The Ulvang collection of wool-based textile products designed for outdoor activities.
  • BAVAC, a new and exciting range of underwear products for sports/high activity pursuits.
  • XL-1, a total range of energy-boosting dietary products.

“These two strong companies both have good international potential, and bringing them together creates a stronger basis for future success, nationally and internationally,” said a company spokesperson.

The agreement reached with the owners of Elite Sport involves Swix Sport acquiring all the shares in Elite Sport with effect from January 2004. The agreement also provides for Jon Inge Gullikstad and Jørn Næss to continue their leading roles in the company. In addition it has been agreed that Vegard Ulvang, former Olympic and World Ski Champion, will have a key role in the development, marketing and sales of both companies’ products as an employee of Swix Sport.

In the near future there will be only minor changes to either company’s organizational structure, and there are no immediate plans for any changes in their day-to-day activities. All current plans for product development, marketing and sales will continue. However the companies will consider closer collaboration where this can offer advantages for both Swix Sport and Elite Sport.

Jon Inge Gullikstad and Jørn Næss have been instrumental in the development of Elite Sport. The company’s success has laid the foundation for the next stage of development, which is to extend its products to markets outside Norway.

With Elite Sport on our team we are looking forward to exciting collaboration, both with our new company and with all our customers.