Performance sportswear brand Odlo has a new owner.

On May 13, the company announced that previous owner, Norwegian venture capital firm Herkules, had sold Odlo to Monte Rosa Holding.

Monte Rosa is a new investment company, set up jointly by Norwegian investor Hugo Maurstad and a Swiss partner, Christian Casal. Both worked previously as consultants at McKinsey; Mr Casal is the previous director of McKinsey in Switzerland.

Odlo has long described itself as a Swiss brand with Norwegian roots. It was founded in Norway in 1946, but has been based in Switzerland since 1986.

Hugo Maurstad’s previous investments have included taking stakes in sports and outdoor brands including Rossignol, Helly Hansen and Dale of Norway. He said on completing the deal that he saw similarities between these companies and Odlo. He said Monte Rosa’s intention was to help Odlo return to its roots . “This will allow it to reinforce its position as the leading developer of outdoor baselayer clothing in Europe,” he added.

Source: Sports Textiles