Norwegian buyer for Swedish outdoor brand
19/01/2012
Swix is the owner of the Swix, Ulvang, Bavac and Toko brands.
Lundhags was founded in 1932 in Järpen, Sweden, by shoemaker Jonas Lundhag. The company offers boots, clothing, backpacks and skates and focuses its product range on "high-quality, authentic functional design, sustainability and performance". Its main markets are the Nordic region and Germany.
Private equity group EQT Opportunity acquired the majority of Lundhags in 2007 from the Lundhag family. At the time of the sale to Swix, EQT said its focus on making Lundhags "a more distinctive brand", coupled with more efficient operations, helped increase sales by 15% annually.
“Thanks to the hard work by the management and board, Lundhags has developed into a more professional company with a competitive, award-winning product range and clear brand positioning," said Thommy Nilsson, chairman of Lundhags under EQT. "I am happy to see Swix as new owner and I am confident that they are able to develop Lundhags, a company turning 80 years old soon, even further.”
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