Fenix Outdoor scoops up Devold - sportstextiles: Lea SportsTextiles

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Fenix Outdoor scoops up Devold

05/03/2025
Swedish group Fenix Outdoor has announced it has acquired a majority stake (65%) in wool specialist Devold of Norway. In the agreement, Fenix will pay €35 million, in part in cash and in part in Fenix Outdoor treasury shares, to the current owner, Flakk Group, a Norway-based family-owned business that will retain 35% ownership of Devold.

“We have searched extensively for a premium wool brand to complement our portfolio and have now found the right partner. Honouring Devold’s heritage and high-quality standards, we are eager to introduce outdoor enthusiasts and adventurers to Devold’s high-performance garments and build a leading global wool brand,” commented Martin Axelhed, executive vice president of Fenix Outdoor.

Devold, founded in 1853 (!), joins Fenix Outdoor’s large portfolio of brands, which includes Fjällräven and Royal Robbins.

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