Swiss functional sportswear brand ODLO has been acquired by Monte Rosa Sports Holding AG, including subsidiary ODLO International, from Herkules Fund III.
Monte Rosa is owned by Hugo Maurstad (pictured left) and Christian Casal (pictured right). Hugo Maurstad has led number of investments in the branded Sport and Leisure industry, including Rossignol Group (Rossignol, Dynastar, Lange, Look), Helly Hansen, Navico (Simrad, B&G, Lowrance), SATS, XXL Sport Retail and Dale of Norway. Christian Casal is the former Head of McKinsey Switzerland and brings vast corporate and turnaround experience.
Swiss firm ODLO has Norwegian root, founded in 1946 from when it pioneered the three-layer principle and sports underwear. As of 1986, ODLO HQ has been based in Hünenberg, Switzerland, now with approximately 800 employees across multiple locations. ODLO offers performance sportswear in six categories, including cycling, and is reportedly a market leader within functional sports underwear in Germany, Switzerland, France, Austria and Italy. The ODLO brand is distributed worldwide in more than 35 countries.
Maurstad said: “We see many similarities between the Helly Hansen and Rossignol investments and ODLO International. The company has a fantastic starting point with a globally recognized brand and strong position in its core markets and segments. We believe bringing ODLO back to its core roots and focus will fortify ODLO’s position as the leading outdoor base layer company in Europe. The management team has done a formidable job in preparing the company for the next phase and we believe we can support the company in delivering profitable growth over the next years.”
Knut Are Høgberg, CEO of ODLO International, added: “We are proud to see, that even in the current challenging business environment, the underlying strong momentum of the ODLO brand has been appreciated by our new owners. We warmly welcome Monte Rosa to the ODLO team and onto our quest – more relevant than ever – to inspire consumers to an active life in the outdoors.”