Hong Kong-based venture capital firm LionRock Capital acquired the Swedish outdoor brand Haglöfs from Japanese sports manufacturer Asics on Dec. 18, 2023.
“Asics has been a supportive and actively involved partner, providing invaluable assistance throughout our journey together. We are thrilled to start a new chapter with LionRock as our shareholder and are looking forward to becoming part of the LionRock family,” commented Fredrik Ohlsson, CEO of Haglöfs.
Daniel Tseung, LionRock’s founding partner said: “Haglöfs fits seamlessly into our portfolio and evidences our commitment to acquire well-understood heritage brands with best-in-class products. We are excited to embark on a new journey with the company to expedite its growth both in the European market and beyond.“ And Tom Pitts, LionRock’s Head of Europe, added: “We have long admired Haglöfs as a brand that shares our commitment to sustainability and is embodied by its passion for the environment and the natural world and for tackling the climate issues we face. An unwavering consideration of the next generation drives Haglöfs to produce quality products that are made to last and shape its entire business approach. Haglöfs thinks differently, takes action and is willing to stand apart from others.”
LionRock Capital has already invested in fast-growing consumer goods companies that have the potential to grow in the Chinese market, among others. The company’s portfolio also includes British shoe brand Clark’s, football club InterMilan and Indonesian online marketplace GoTo Group.
Founded in 1914 by Wiktor Haglöf, Haglöfs is a leading outdoor performance brand that designs, develops and markets clothing, footwear and hardware products sold in 28 countries. Headquartered in Bromma, Sweden, Haglöfs has been a wholly-owned subsidiary of Asics since 2010. Asics reportedly paid 11.4 billion yen for the acquisition in 2010. The business was now reportedly valued at ¥10 billion (€64m). The Japanese sporting goods company wants to focus entirely on its core business in the future.
