In a strategic pivot, Japanese giant Asics has announced the sale of its Swedish outdoor brand, Haglöfs, to Hong Kong-based fund LionRock Capital on December 18. This move aligns with Asics’ ambitious goal outlined in its 2023 medium-term plan: to emerge as the leading running and performance running brand.
Despite Haglöfs’ rich heritage dating back to its 1914 inception by Wiktor Haglöf, Asics has redirected its investment focus toward running events, digital and physical players in the running sector, and the promotion of lifestyle lines. The sale positions Haglöfs, headquartered in Bromma near Stockholm, to flourish under new ownership that better aligns with its vision.
LionRock Capital, renowned for its acquisition of Clarks in 2021, acquires 100% of Haglöfs’ shares through its LionRock Capital Aspire Limited fund. Daniel Tseung, head of the fund, expresses excitement about the acquisition, noting that Haglöfs perfectly complements their portfolio, showcasing their dedication to recognized heritage brands offering top-notch products.
With aspirations to accelerate growth in the European market and beyond, LionRock Capital sees potential for Haglöfs, valued at around €80 million before the Covid-19 crisis. The outdoor brand, offering textiles and equipment, may extend its footprint beyond the current 28 markets. The strategic move is anticipated to usher in a new era for Haglöfs under LionRock Capital’s guidance.
Fredrik Ohlsson, CEO of Haglöfs, expresses gratitude to Asics and looks forward to a new chapter with LionRock as a shareholder, anticipating seamless integration into the LionRock family.
As the outdoor brand transitions, this strategic acquisition positions Haglöfs for dynamic growth and market expansion in the evolving outdoor industry landscape.
