Japan's ASICS announces sale of Haglofs to LionRock Capital

20 Dec '23

2 min read

Pic: Haglofs

Insights

ASICS Group has sold Haglofs AB, a Swedish outdoor clothing firm, to LionRock Capital Aspire (HK) Ltd.
This move, part of ASICS' strategy to become the leading performance running brand, shifts focus to running-related ventures and race platforms.
Haglofs, acquired in 2010 and grown substantially in Europe, needs new investment for further expansion.

Japanese multinational sporting goods company ASICS Group has officially confirmed the sale of all shares of Haglofs AB, a leading Swedish outdoor clothing and equipment manufacturer, to LionRock Capital Aspire (HK) Limited. The announcement follows the approval of the group's board of directors and the completion of the sale and purchase agreement with a special purpose company owned by LionRock Capital Aspire Limited and ultimately managed by LionRock Capital GP Limited.

The decision to sell Haglofs aligns with ASICS Group's Mid-Term Plan 2023, which aims to position the company as the ‘number 1 performance running and racing brand." In recent years, ASICS has concentrated its efforts and investments on running-related activities and acquisitions of race registration platform companies, working towards creating a comprehensive running ecosystem. This focus has included prioritising certain sports categories to maximise shareholder value, ASICS said in a press release.

Since ASICS Group acquired Haglofs in 2010, the brand has seen significant growth in both the Nordics and Europe. This success can be attributed to enhanced marketing efforts and the digitalisation of its operations. However, ASICS Group recognised that further development of Haglofs would require new investments from a different partner.

"Asics has been a supportive and an actively involved partner, providing invaluable support throughout our shared journey. We are delighted to begin a new chapter with LionRock as a shareholder and look forward to being part of the LionRock family," said Fredrik Ohlsson, CEO of Haglofs.

Fibre2Fashion News Desk (DP)

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