Procuritas Capital Investors VI (Procuritas) has acquired Polarn O Pyret AB, a Swedish children’s clothing brand, for a SEK330 million (EUR33 million) on a cash and debt-free basis.

Polarn O Pyret, launched in 1976, is internationally recognised forfunctional design and engagement for sustainability.

Polarn O Pyret is headed by Johan Munck, an experienced CEO and driver of change in retail and digital consumer businesses.

“We are excited about having Procuritas as our partner since they share our passion for long-term sustainability,” says Munck. “We have worked hard during the difficult past year to build on our many strengths and increase our focus on e-commerce, and it is testament to the brand’s strength and resilience that we are in a good position to grow. We look forward to working with the Procuritas team to fulfil Polarn O. Pyret’s potential to push boundaries for sustainability in the clothing industry.”

Read more/Source: Private Equity Wire