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April 21, 2022

Online Brands Nordic AB snaps up Isbjörn of Sweden

E-commerce specialist Online Brands Nordic AB has acquired Nordic Kidswear AB in a deal that includes its sustainable outdoor kidswear brand Isbjörn of Sweden.

By Beth Wright

Established by Maria Frykman and Camilla Schmidt in 2005, Isbjörn of Sweden is a global omnichannel company that sells to more than 20 markets, including Europe, North America and Japan, via strategically selected retailers as well as its own e-commerce and marketplaces.

The company recently outlined its sustainability pledge which includes net zero targets, going completely microplastic-free, and becoming a fully circular brand. It is estimated to have a turnover of SEK37m (US$3.9m) year-to-date end April 2022 – an annual increase of 15% EBITDA.

Online Brands Nordic AB will initially pay SEK40m, divided 50/50 into cash and new issued shares in the buying company. Additional performance cash payments during 2022, 2023 and 2024 will be a maximum of SEK35m, equating to a total purchase sum of SEK75m.

Maria Frykman, who will continue as CEO at Isbjörn, says: “We look forward to continuing Isbjörn’s mission to make the most sustainable and long-lasting outdoor clothing for children and teenagers, together with Online Brands Nordic .

“With a financially strong and digitally experienced owner we can further develop Isbjörn into a leading global player within our sector. We can continue to take our product offering and sustainability strategy to the next level, securing the ambitious goals we have set for the company. The combined experience of entrepreneurship and international e-commerce that exists within Online Brands will be a game-changing addition to our company.”

Magnus Skoglund, CEO of Online Brands Nordic AB, adds: “Founders Maria and Camilla have made an outstanding effort in developing Isbjörn into a leading outdoor brand which specialises in sustainable and functional clothing for children and teenagers. The brand is at the forefront of using the most sustainable materials and production processes and we look forward to working closely with the Isbjörn team to develop and grow the brand, sharing our valuable knowledge on this inspirational journey.”

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