Propago buys Dale of Norway stake
Norwegian-based investment group Propago has acquired a 67% share of knitwear group Dale of Norway and the new owners have injected $5 million into product development.
Propago co-manager, Ole-Bjørn Gjerde, said: “We believe there are excellent opportunities to grow the brand and will focus our efforts in maximising future growth.”
Dale of Norway’s previous sole owner, the Winder group, is to retain one-third of the company as part of the new deal.
Founded 128 years ago, Dale of Norway’s sweaters are inspired by the country’s rich culture, tradition, history and landscape. More recently, the company has also established itself as a technical outerwear products manufacturer, including items such as Knitshell, Windstopper and baselayer products.
