Björn Borg has acquired the shares held by the minority shareholder of subsidiary Björn Borg UK Limited, representing 20% of total share. Following the acquisition, the UK subsidiary is now wholly owned by the group, and is a step towards the group goal of becoming a more vertically integrated Björn Borg.
The acquisition was made in conjunction with the exit by the minority shareholder as the Managing Director of the UK Company. Former UK Sales Manager Neil Smith will take over as Country Sales Manager for the UK branch.
Says Björn Borg CEO Henrik Bunge:
“We have now taken yet another step to cut the distance between the Björn Borg headquarters and the end consumer. Integration is crucial to understand and consequently make a difference for consumers on our different markets”.
The acquisition was made after the end of the first quarter, 2016.
For further information, please contact:
Henrik Bunge, CEO
Phone: +46-702 34 76 20
This information is published pursuant to the Swedish Financial Instruments Trading Act (1991:980), Chapter 4, paragraph 9. The information was released for publication on 16 May, 2016 at 8.30 a.m. (CET).