Devold of Norway Acquired by Fenix Outdoor International | Consumer M&A Deal

Fenix Outdoor International has signed to acquire Devold of Norway, a consumer other business in Norway, for $9.6M. Fenix Outdoor International acquires Devold of Norway to take full ownership of the merino-based outdoor apparel and natural fibre clothing brand founded in 1853. Devold of Norway produces responsible wool and merino clothing for outdoor life, strengthening Fenix Outdoor International’s consumer M&A footprint beyond its core Norway and Germany markets. The strategic acquisition is an add on acquisition, with Fenix Outdoor International acquisitions of the remaining 35% minority stake from the Flakk Group, and the buyer expects to control 100% of Devold of Norway after closing.