Online Brands Nordic, a Swedish investment group, is bidding to acquire Nordic KidsWear, which owns Isbjörn of Sweden, the Swedish brand of sustainable children’s outdoor and ski clothing. It is offering a cash payment of about 17.9 million Swedish kronor (€1.71m-$1.92m), the issuance of 597,165 shares in Online Brands, currently worth about SEK 2.14 million (€200,000-$230,000), and a possible additional purchase price depending on the development of Nordic KidsWear in 2022-2024. The completion of the acquisition is subject to shareholders holding at least 95 percent of Nordic Kidswear’s shares reaching an agreement to sell the company.
Nordic KidsWear and Isbjörn of Sweden, established in 2005 by Maria Frykman and Camilla Schmidt, have developed over the past 16 years into a global omnichannel company selling in more than 20 markets, primarily through strategically selected retailers as well as through its own e-commerce and marketplaces. The company’s sales in fiscal 2021/22 are expected to be around SEK 39 million (€3.7m-$4.1m), generating Ebitda of about SEK 4.3 million (€410,000-$460,000).
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