Palamon Capital Partners has acquired majority stake in Swedish designer socks brand Happy Socks, for SEK 765 million. Palamon will also inject SEK 40 million in capital to support the continued expansion of the business. Happy Socks is sold in more than 90 countries through more than 10,000 points of sale, including ecommerce and company owned stores.
Founded in 2008, Happy Socks has achieved more than an annual 50 per cent revenue as well as EBITDA growth, over the last three years and posted retail sales of €100 million in 2016.Palamon Capital Partners has acquired majority stake in Swedish designer socks brand Happy Socks, for SEK 765 million. Palamon will also inject SEK 40 million in capital to support the continued expansion of the business. Happy Socks is sold in more than 90 countries through more than 10,000 points of sale, including ecommerce and company owned stores.#
Following the transaction, co-founder Mikael Söderlindh and Victor Tell will remain actively involved in the management of Happy Socks.
“Happy Socks is a phenomenal company with a very distinctive brand DNA that resonates with consumers around the world,” Ali Rahmatollahi, partner at Palamon Capital Partners said. “Palamon’s investment stems from the firm’s ongoing effort to identify well-positioned European specialty retail brands with strong growth potential in a global market.” (AR)
Fibre2Fashion News Desk – India
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