HELLY HANSEN TO ACQUIRE BRITISH OUTDOOR BRAND MUSTO
Phoenix Equity Partners has announced that it has agreed to the sale of British outdoor brand Musto to technical outdoor brand Helly Hansen. The transaction value was not disclosed.
Through the acquisition of Musto, Helly Hansen will become the global leader in professional sailing apparel, complementing its existing position in professional skiing apparel and enhancing its presence in the UK outdoor market. Helly Hansen will invest in Musto’s international growth ambitions as well as deepen its technological and sourcing capabilities. Peter Smith, CEO of Musto, will continue to lead the business.
Musto is the British brand of choice for professional yachtsmen and world-class dinghy sailors. Granted two British Royal Warrants and an official supplier to the British National Sailing Team, Musto leverages its British roots and sailing heritage to create high quality, cutting-edge technical products that enjoy a hard-earned reputation for innovation and performance.
“Musto accelerates Helly Hansen’s long-term aspiration to become a global leader in sailing, matching our leadership position in professional skiing,” said Paul Stoneham, CEO of Helly Hanson. “Our focus will be to expand Musto internationally as an iconic British lifestyle brand with deep technical sailing credentials alongside Helly Hansen. The two brands are highly complementary and hold in common a deep regard for the sailing community and commitment to preserving our oceans.”
“Phoenix has been a long-term supporter and admirer of the Musto brand,” added Hugh Lenon, chairman of Phoenix and of Musto. “We are delighted that Peter and his team have found a new owner that will continue to support the brand’s development, particularly in international markets. We wish Musto and Helly Hansen every success as they embark together on the next phase of Musto’s growth.”
