Polarn O Pyret AB, the children's wear brand owned by Swedish fashion retailer RNB Retail and Brands, has acquired its master franchise business in Norway.

The deal includes all 24 Polarn O Pyret stores operated by WAM AS, its e-commerce business, as well as the head office and store staff.

WAM has 160 employees and generates annual net sales of SEK130m (US$19.4m).

RNB said the move is a first step towards accelerating the growth of Polarn O Pyret, and follows the successful operation of its own stores in Sweden and Holland.

"We view the continued expansion of Polarn O Pyret as a strategic prioritised activity," said RNB president and CEO Magnus Håkansson.

Anders Wiberg, CEO of Polarn O Pyret, added: "The acquisition means that we will increase the number of proprietary stores by almost 40%, which will naturally have a positive impact on our profitability."

RNB Retail and Brands also owns and operates the Brothers & Sisters stores.