Procuritas to acquire Swedish children's clothing provider

Procuritas Capital Investors VI will acquire children's clothing provider Polarn O. Pyret AB from RNB Retail & Brands AB for 330 million Swedish kronor on a cash and debt-free basis.

After the transaction, Procuritas will become the majority shareholder in Polarn O. Pyret, with Jotunfjell Partners and the management team acquiring a minority stake.

Polarn O. Pyret CEO Johan Munck and his leadership team will continue in the day-to-day management of the company.

The transaction is subject to approval by the Swedish Competition Authority.

As of March 11, US$1 was equivalent to 8.47 Swedish kronor.