L Catterton, the largest consumer-focused private equity firm in the world, has acquired premium children's apparel and lifestyle brand Hanna Andersson, which offers Swedish inspired children's clothing.
Operating for more that 30 years, Hanna Andersson has a broad product line across boys, girls and infants from newborn to 12 years old. Over the last decade, Hanna Andersson has grown from a highly successful catalogue brand to become one of the fastest growing premium brand in the children's specialty apparel category.
It also has a successful omnichannel platform, which has been generating double-digit annual revenue growth since 2010 through a combination of its catalogue and e-commerce platform, as well as its 55 retail stores and 11 outlet locations.
L Catterton’s acquisition will help Hanna Andersson to “rapidly expand its retail store presence by adding to its footprint both domestically and internationally over the coming years”, according to the press statement.
"We are thrilled to partner with L Catterton, whose deep knowledge of the consumer market, significant operational expertise, and value-added approach will enable Hanna Andersson to enter our next phase of rapid growth and success," said Adam Stone, Hanna Andersson's president and chief executive officer, who will remain in his role. "L Catterton has a unique appreciation for our company's deep emotional connection with customers, who are fiercely loyal to and constant promoters of the brand.”
Hanna Andersson set to expand following L Catterton acquisition
Stone added: “We look forward to working with L Catterton and leveraging its distinctive global consumer platform to expand our retail footprint within and outside the United States, while remaining true to our heritage of creating unique designs that let kids be kids."
Nik Thukral, co-managing partner at L Catterton added: "Hanna Andersson is primed for even greater expansion as it continues to enhance its traditional product categories while adding new offerings.”
L Catterton has significant experience investing in premium retail brands, its investments include Pirch, Sweaty Betty, Worth, Tabi, Restoration Hardware, Baccarat, John Hardy, Sandro, and Maje.
Image: courtesy of Hanna Andersson