Verdane to acquire Lumene Group from Finland and Purity and WoolOvers from the UK.

Verdane, an Oslo, Norway-based private equity company, announced buying in bulk three companies from the British investor Langholm Capital.

The deal, which as the financial details undisclosed, was made for the majority acquisition of a portfolio of WoolOvers, a British lifestyle brand; Purity Soft Drinks, the U.K.-based company behind brands such as Juice Burst and Firefly; and Lumene, a Finland-based natural skincare and beauty brand.

The portfolio has combined run-rate revenues and EBITDA of approximately €155 million ($183M) and €14 million respectively. 

WoolOvers, founded in 1989 and led by CEO Mike Lester, is a British lifestyle brand, designing and selling quality natural knitwear in the U.K., U.S., Germany, and Australia. In 2020, the company acquired Pure Collection and is today operating both brands in parallel. Both of which have experienced substantial growth in the past 12 months. Verdane will support WoolOvers in the next phase of growth by strengthening the company’s online capabilities, levering its loyal customer base to grow its product offering, and further drive geographical expansion.

Purity, led by CEO Sarah Baldwin, is a U.K. based leading manufacturer of juices and juice drinks. As one of the oldest companies in the UK, dating back to 1892, Purity started supplying soft drinks by horse drawn dray in and around Wednesbury, where their drinks became a local favourite. Today, Purity is catering two brands: JuiceBurst, a natural juice drink and Firefly, a premium healthy botanical soft drink. Verdane will accompany Purity as it leverages its existing distributor and retailer network and strengthens its digital presence to help drive sales and boost its online brand awareness.

Lumene, led by CEO Johan Berg, founded in 1970 and headquartered in Finland, is a leading natural skincare and make-up business that develops and distributes a range of sustainable health and beauty products across its international markets. With 390 employees globally, the company has an established presence in Finland, Sweden, Russia and the U.S., with expanding operations in the U.K. and China. Lumene holds a strong and recognisable brand in its home market and has witnessed significant momentum recently thanks to growing consumer demand for sustainable cosmetics and natural Nordic beauty products. Verdane will support Lumene in its international growth and will particularly help the company expand its digital capabilities and D2C ambitions, and in doing so help to further consolidate its leading position in its home market and abroad.