Orkla buys 4 brands for Pierre Robert's expansion

04 May '16
1 min read
Courtesy:Orkla
Courtesy:Orkla

Orkla, a Finnish consumer goods conglomerate, has acquired four apparel brands – Norlyn, Amar, Black Horse and Finnwear for the strategic expansion of its subsidiary, Pierre Robert Group, which develops undergarments, socks and tights.

Norlyn and Amar are socks brands, while Black Horse and Finnwear are tricot brands. These brands together saw a turnover of €17.2 million in 2015, and are a good match to the existing portfolio of Pierre Robert Group.

Commenting on the acquisition, Hege Holter Brekke, CEO of Pierre Robert Group said, “This acquisition is strategically important for expanding Pierre Robert's presence in the Nordic region. Norlyn, Amar, Black Horse and Finnwear are well-established brands in the Finnish market, with high recognition and strong loyalty among Finnish consumers.”

Around 22 employees from the brands will be transferred to Pierre Robert as part of the transaction. (MCJ)

Fibre2Fashion News Desk - India

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