Procuritas Capital Investors VI Holding
Procuritas Capital Investors VI, commonly known as Procuritas, is a private equity firm that has made a significant investment in the children's clothing industry by acquiring Polarn O. Pyret AB. This iconic Swedish brand, renowned for its high-quality and functional children's wear, was purchased for SEK 330 million on a cash and debt-free basis. The acquisition by Procuritas underscores their commitment to supporting the company's growth and advancing sustainability within the clothing industry.
Polarn O. Pyret has been a distinguished leader in children's apparel since its inception in 1976. The brand is internationally acclaimed for its durable and functional designs, as well as its dedication to sustainability. This ethos is reflected in their products, which are designed to withstand wear and tear, allowing them to be passed down and reused, aligning with the company's motto that each garment should be worn by at least three children.
The CEO of Polarn O. Pyret, Johan Munck, is an experienced leader in retail and digital consumer businesses. Under his guidance, the company has strengthened its focus on e-commerce, which has become increasingly important in recent years. Munck has expressed enthusiasm about the partnership with Procuritas, sharing their passion for long-term sustainability and the brand's potential to be a frontrunner in sustainable practices within the industry.
Procuritas, on the other hand, brings a data-driven approach to the table, which complements Polarn O. Pyret's commitment to quality and sustainability. They have already assisted the company in investing in new IT infrastructure, which is crucial for enhancing the customer experience across both online and physical stores. This investment aims to ensure that customers have a seamless interaction with the brand, regardless of the platform.
After the transaction, Procuritas became the majority shareholder of Polarn O. Pyret, with Jotunfjell Partners and the management team acquiring a minority stake. The current leadership, including CEO Johan Munck, continues to manage the day-to-day operations of the company.
The clothing industry is responsible for a significant portion of global carbon emissions and water consumption. Procuritas' acquisition of Polarn O. Pyret is a strategic move to continue developing the company as a leader in sustainability, transforming the business and expanding its reach further. This partnership is poised to drive Polarn O. Pyret's growth and reinforce its position as a sustainable and beloved brand in the children's clothing market.