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Helly Hansen to acquire UK outdoor brand

Norwegian outdoor brand Helly Hansen has signed a definitive agreement to acquire UK-based brand Musto, which specialises in sailing and country apparel. The sellers are investment firm Phoenix Equity Partners and other shareholders.

With this transaction, Helly Hansen said it will aim to become “a global leader in professional sailing apparel”, complementing its position in professional skiing apparel and enhancing its presence in the UK outdoor market.

It said it intends to invest to help the Musto brand grow internationally as well as deepen its technological and sourcing capabilities. Chief executive, Peter Smith, will continue to lead Musto; Paul Stoneham, will become Musto’s executive chairman while continuing his role as Helly Hansen’s chief executive.

At the time of the announcement, Mr Stoneham said: “Our focus will be to expand Musto internationally as an iconic British lifestyle brand with deep technical sailing credentials, alongside Helly Hansen. The two brands are highly complementary and hold in common a deep regard for the sailing community and commitment to preserving our oceans.”