Fenix Outdoor International AG has announced the acquisition of a 65 percent stake in Devold of Norway AS.
Fenix Outdoor has paid €35 million for 65 percent of Devold, saying the acquisition is intended to strengthen its wool category and make Devold its flagship wool brand.
With the underwear brand, Fenix is closing the last obvious gap in its outdoor equipment portfolio, which already includes the Fjällräven, Hanwag, Royal Robbins and Tierra brands. Fenix also operates its own retail segment, Frilufts, which includes the banners Naturkompaniet, Globetrotter, Partioaitta, Friluftsland and Trekitt.
Read the complete story on our sister publication The Outdoor Industry Compass.
