Two iconic heritage brands - Rossignol Group and Dale of Norway - both world-known for their high quality products, have decided to join hands to strengthen their position in the international apparel market. Rossignol Group, leading winter sports groups, majority owned by the Nordic focused Private Equity Company Altor, is to acquire Dale of Norway.
Rossignol Group has entered into a binding agreement to acquire Dale of Norway.Two iconic heritage brands - Rossignol Group and Dale of Norway - both world-known for their high quality products, have decided to join hands to strengthen their position in the international apparel market. Rossignol Group, leading winter sports groups, majority owned by the Nordic focused Private Equity Company Altor, is to acquire Dale of Norway.
Since its 1879 origin, Dale has been known for its high quality wool-based knitwear. The company designs and manufactures its own portfolio of premium knitted garments and accessories, which are distributed directly or through its many global distributions agents. The brand is internationally recognised and products are currently sold in over 25 countries globally with more than EUR 13million of sales. Dale has been the exclusive supplier of official knitwear to the Norwegian National Ski and Winter Olympic Teams since 1956. During the last years, Dale of Norway has developed the brand from their core of traditional Norwegian knitwear to contemporary collections for sport, outdoor and fashion. The company is headquartered in Dalekvam, Norway and has been a cornerstone in the local community and history.
Bruno Cercley, CEO of Rossignol, said: “Rossignol and Dale of Norway share a profound respect for the value of heritage when it is combined with new technology and creative development. With our 110 years, Rossignol’s success has been continuously built on innovation, racing and passion. Dale and its 140 years, is built on the same vision of bringing historic traditions into new and modern fashion. Knitwear is an integral part of our Rossignol apparel line-up, and the addition of Dale is highly complementary.”
“I am impressed with what the management team and the rest of the Dale organisation have built and I look forward to expanding our common apparel business through shared know-how, new product development and global distribution. We see great potential in supporting and strengthening Dale in its international expansion, leveraging on both companies’ strong connection with winter resorts and retailers across the world, offering to our customers and consumers a complementary portfolio of apparel and equipment. In addition, Dale’s facilities in Dalekvam and manufacturing expertise can continue to drive Rossignol’s and Dale’s growing knitwear lines,” Cercley added.
Hilde Midthjell, CEO and owner of Dale of Norway, said: “After having worked intensely with the turnaround, modernisation and expansion of Dale of Norway for several years, creating a profitable company with substantial growth, I am proud to deliver the reins to Altor and Rossignol. Rossignol matches the brand, heritage and production focus at Dale and is in my view the ideal partner for Dale going forward, which has been a deciding factor for me when choosing Altor and Rossignol as the new owner.”
“Rossignol is committed to the same values as we at Dale and will continue manufacturing world leading knitwear at Dale and plans to expand the production with their own knitwear under the Rossignol brand. We also share a common view of strengthening our mutual ties with retailers and winter resorts across the world. At the same time, I know that the very capable employees at Dale will have the best owner to take them and the Dale brand to the next level," Midthjell added.
Closing of the transaction is expected to happen within year end. (SV)
Fibre2Fashion News Desk – India
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