Care of Carl was acquired by Litorina.

Care of Carl, a Borås, Sweden-based online retailer of men fashion, announced that it entered into an agreement to sell the majority ownership package to private equity firm Litorina.

The deal, which has undisclosed financial details, was made in order to accelerate the company's focus a rapid expansion of its operations. In conjunction with the sale, Ian Tansley, former CEO of Mr Porter, will join the company as a member of the board and advisor.

Care of Carl, founded in 2019 by Henning Källqvist (CEO) and Gustaf Rudholm, developed a digital ecommerce platform for online retailing of premium apparel, footwear and accessories for men. The company has a turnover of about SEK 220 million ($22M) with an annual growth of more than 20%.