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Published
Jan 4, 2016
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Eton bought by EQT VII

Published
Jan 4, 2016

Eton, the premium shirt maker that was founded in Sweden in 1928, has a new owner. Litorina IV LP has sold its 53% ownership in the brand to private equity firm EQT VII.

Photo: Eton


Litorina became Eton's major shareholder in 2011 and since then, the company has doubled its turnover. Eton says the divestment is a strategic step in its global expansion.

"Our partnership with Litorina has exceeded everyone’s expectations. We have achieved our aggressive goals within three and a half years instead of six, which was the original time frame. With Litorina’s support we have been able to grow our turnover from SEK 300m to SEK 650m and operating profit has increased threefold during their ownership," says Hans Davidson, CEO at Eton.

Litorina invested in Eton's go-to market strategy and launch of its own online store. "Hans Davidson and his team have carried out the growth plan that we together created in an impressive way. Today, Eton has an even stronger position in the market for premium men’s shirts and is well equipped to continue its strong development under EQT’s ownership," says Harold Kaiser, Partner at Litorina Capital Advisors AB, advisor to Litorina IV LP.

The transaction is subject to approval from the competition authority in Austria, and is expected to close during the beginning of 2016.

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