Odlo has a new owner

Image: Hugo Maurstad

Monte Rosa Sports Holding AG (Monte Rosa) has acquired ODLO International with its country operations ("ODLO International") from Herkules Fund III. The transaction was closed on Wednesday, May 13, 2020.

In the recent past, the company, which is based in Hünenberg in the canton of Zug, has made a name for itself among insiders, particularly with rumors and fluctuations in management. It seemed that the former sports textiles producer was in trouble. Now, new owners are taking the helm, and they want to get the company back on track. The company writes in this regard:

ODLO International, the Swiss company with Norwegian roots, was founded in 1946. The brand pioneered the three-layer principle and is the inventor of functional sports underwear. Since 1986, ODLO has been headquartered in Hünenberg, Switzerland, and today employs about 800 people at several locations. ODLO, a leading supplier of performance sportswear, is a major player in the six categories of functional sports underwear, running, training, cycling, cross-country skiing and outdoor. In Germany, Switzerland, France, Austria and Italy, ODLO is the market leader in functional sports underwear. The ODLO brand is sold in more than 35 countries worldwide.

Monte Rosa is owned by Hugo Maurstad and Christian Casal. Hugo Maurstad has led a number of investments in the sports 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. He is a Norwegian citizen and previously resided in Switzerland. Christian Casal, the former head of McKinsey Switzerland, brings extensive experience in corporate management as well as turnaround processes. He is a Swiss citizen and resides in his home country.

Commenting on the transaction, Hugo Maurstad said: "We see many similarities between the investments in Helly Hansen, Rossignol and ODLO International. The company has a fantastic starting position. Odlo is a globally recognized brand and has a strong position in its core markets and segments. We are convinced that the company's return to its roots will sustainably strengthen Odlo's position as the leading outdoor baselayer brand in Europe. The management team has done an outstanding job in preparing the company for the next phase. We believe we can help Odlo achieve profitable growth in the years ahead."

Knut Are Høgberg, CEO of ODLO International, assesses Monte Rosa's entry by saying, "We are proud to see that even in the current challenging business environment, the strong momentum of the Odlo brand is appreciated by our new owners. We welcome Monte Rosa to the Odlo team and to our quest - more important than ever - to inspire consumers to live active lives in nature."

Knut Are Høgberg, CEO of ODLO International