Redemption from an investment fund
Helly Hansen, one of the leaders in technical outdoor clothing, announced on October 18, 2017 the acquisition of the British company Musto, a specialist in sailing clothing, from the investor Phoenix Equity Partners. Founded in 1964 by Keith Musto, Olympic medalist in flying dutchman at the Olympic Games in Tokyo the same year, the brand has become one of the most recognized in the field of clothing for sailors. She is currently the official supplier to the British Sailing Team and the British Riding Federation until the Tokyo Olympics in 2020.
The company will remain in the UK and Peter Smith, CEO of Musto, will continue to lead the company. Paul Stoneham, CEO of Helly Hansen, takes the executive presidency of Musto.
Helly Hansen wants to be a leader on sailing
The Musto acquisition is part of a long-term growth strategy launched by Helly Hansen in 2015. In the last 3 years, Helly Hansen has invested in brand and product development, while improving its distribution network. Paul Stoneham shows the ambitions of the Norwegian group, founded in 1877. "Musto accelerates Helly Hansen's long-term aspirations to become a world leader in sailing, as we are in professional skiing. Our goal will be to develop Musto internationally as an iconic British lifestyle brand, with deep technical references in sailing, alongside Helly Hansen. The two brands are highly complementary."