The technical outdoor brand Helly Hansen has acquired Musto, the British specialist sailing and country apparel brand, from Phoenix Equity Partners.
With this transaction, Helly Hansen will become a global leader in professional sailing apparel, complementing its existing leadership in professional skiing apparel.
The move also enhances Helly Hansen’s 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. The acquisition reinforces Helly Hansen’s ambitions in the UK market, its growth strategy and its desire to replicate its own performance with the Musto brand.
Peter Smith, CEO of Musto will continue to lead the business and report to Paul Stoneham, CEO of Helly Hansen who will also become executive chairman of Musto.
Paul Stoneham, CEO of Helly Hansen, said: “Musto accelerates Helly Hansen’s long-term aspiration to become a global leader in sailing, matching our leadership position in professional skiing.
“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.”
Smith, CEO of Musto added: “This is an incredibly exciting next phase in Musto’s evolution and we are invigorated by the prospect of working with a business as complementary to our own as Helly Hansen. We look forward to leveraging Helly Hansen’s global network and R&D capabilities, as we grow our market leading position in sailing, country and outdoor apparel.”