Björn Borg acquires UK subsidiary
Björn Borg, the Swedish sports and fashion retailer, has announced that it's acquired all the shares held by the minority shareholder of subsidiary Björn Borg UK Limited. They represent 20% of total share.
The UK subsidiary is now fully owned by the group. The acquisition is part of the group's strategy to become a more vertically integrated Björn Borg, and was made in conjunction with the exit by the minority shareholder as the Managing Director of the UK Company.
Neil Smith, the former UK Sales Manager, will take over as Country Sales Manager for the UK branch.
Says Björn Borg CEO Henrik Bunge: “We have now taken yet another step to cut the distance between the Björn Borg headquarters and the end consumer. Integration is crucial to understand and consequently make a difference for consumers on our different markets”.
Björn Borg reported a 7% increase in full year sales in 2015, up to 574.3m SEK.
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