Polarn O. Pyret was acquired by Procuritas for SEK 330 million.

RNB Retail and Brands AB, a Stockholm, Sweden-based fashion retail holding group, announced that the company reached an agreement to sell Polarn O. Pyret to Procuritas.

The deal was made for a preliminary value of SEK 330 million ($39M) on a cash and debt-free basis.

RNB Retail and Brands AB has previously announced a process to separate the group subsidiaries and ultimately divest the subsidiaries to stable and suitable owners.

Polarn O. Pyret is a Swedish brand for baby and childrenswear that started in 1976 with the goal of making clothes that let kids be kids. After 45 years we can proudly call ourselves a leading brand for high-quality kids wear in the Nordics, and our products are sold in several markets around the world.