Nordic Capital invests in Gina Tricot

Nordic Capital, the Stockholm, Sweden-based private equity firm, announced that it has reached an agreement to acquire the majority of the Swedish fashion retail chain Gina Tricot AB from existing shareholders, and will inject new equity to strengthen its financial position.

The founding Appelqvist family remains a significant shareholder.

Göran Bille will take over as CEO, in connection with Jörgen Appelqvist's transition into his future role on the Board of Directors.

Gina Tricot, founded in 1997, is a Swedish fast fashion retail chain that comprises 180 stores across Sweden, Norway, Denmark, Finland and Germany. With a growing online presence, Gina Tricot also reaches fashion-conscious women in 28 countries across Europe.

The company is headquartered in Borås, Sweden, and has approximately 2,000 employees.

In 2013, Gina Tricot reported sales of approximately SEK 2 billion.

Paul Frankenius, who has long and solid experience within investments and executive positions in the fashion industry, will invest as a minority shareholder together with Nordic Capital.

As Nordic Capital becomes a majority owner, a succession plan has been agreed with Jörgen Appelqvist, current CEO and co-founder of Gina Tricot, who will transition into a senior role on the Board. He will be succeeded as CEO by Göran Bille, current CEO at Lindex. Göran Bille has over 30 years of extensive experience in the fashion retail sector having held, amongst other roles, various senior positions at international fashion chain H&M.