Odlo acquires Norwegian wool specialist Janus
Swiss sportswear brand Odlo has announced the acquisition of Janus Holding, a Norwegian specialist in wool manufacturing. The buyer intends to move the production of its wool products, currently made in China and Portugal, to the Janusfabrikken unit in Bergen.
Janne Venger Solheim, Janus’ principal owner, will join Odlo’s board of directors. Arne Fonneland will remain as CEO of Janusfabrikken, whose production teams will remain unchanged. The financial transaction of an undisclosed amount is being made through Odlo's own funds, through a loan, and by the owners of Janus, who will reinvest a portion of the purchase price in Odlo. The transaction is expected to be finalized by the end of the first quarter.
"We have been following Janus for several years now and have always been impressed with the quality of the products they manufacture," said Hugo Maurstad, chairman of Odlo’s board of directors. "We see this as a unique opportunity to bring Janus' products, expertise and production capabilities into the Odlo family. This will strengthen our position in the wool products market and create many new and exciting opportunities for growth."
Distributed in more than 35 countries, Odlo is one of the leading players in the German, Swiss, French, Austrian and Italian sports underwear markets. The brand is currently relying on a sustainable strategy based around materials from natural or recycled sources, the use of more sustainable energy, and European production systems.
The Norwegian-born firm founded in 1946 left the Scandinavian investment company Herkules in 2020 to join Monte Rosa Sports Holdings.
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