L Catterton, a consumer-focused private equity firm, announced that it has acquired Hanna Andersson, a leading premium children’s apparel and lifestyle brand. Terms of the transaction were not disclosed.
For more than 30 years, Hanna Andersson has offered high-quality, Swedish-inspired children’s clothing. From its iconic striped sleepwear to everyday playwear and more, Hanna Andersson’s broad product line is balanced across boys, girls and infants from newborn to 12 years old. The company’s clothing is clearly differentiated by unmatched quality, durability and style.
Over the last decade, Hanna Andersson has grown from a highly successful catalog brand to become the most prominent and fastest growing premium brand in the children’s specialty apparel category. With a successful omnichannel platform, Hanna Andersson has been generating double-digit annual revenue growth since 2010 through a combination of its heritage catalog business and attractive e-commerce platform, as well as 55 retail stores and 11 outlet locations. In partnership with L Catterton, Hanna Andersson plans to rapidly expand its retail store presence by adding to its footprint both domestically and internationally over the coming years.
Guided by an accomplished team with significant industry expertise, Hanna Andersson has solidified a leadership position in the growing $7 billion premium children’s wear market. Adam Stone will continue to lead Hanna Andersson as President and Chief Executive Officer.
“We are thrilled to partner with L Catterton, whose deep knowledge of the consumer market, significant operational expertise and value-added approach will enable Hanna Andersson to enter our next phase of rapid growth and success,” said Adam Stone, Hanna Andersson’s President and Chief Executive Officer. “L Catterton has a unique appreciation for our company’s deep emotional connection with customers, who are fiercely loyal to – and constant promoters of – the brand. We look forward to working with L Catterton and leveraging its distinctive global consumer platform to expand our retail footprint within and outsidethe United States, while remaining true to our heritage of creating unique designs that let kids be kids.”
“We see an incredible opportunity in Hanna Andersson, a leading premium brand with international potential, which plays a dominant role in a large and highly fragmented children’s wear market, supported by favorable demographics,” said Nik Thukral, Co-Managing Partner of L Catterton’s Buyout Fund. “Having already achieved significant growth since 2010, Hanna Andersson is primed for even greater expansion as it continues to enhance its traditional product categories while adding new offerings and elevating the brand. There is simply no other brand in the children’s apparel industry that delivers high-quality clothing to such a loyal following. We believe that together, we can help Hanna Andersson become a premier global lifestyle brand, and we are excited to partner with Adam and the outstanding management team to bring that to life.”
L Catterton has significant experience investing in premium retail brands. Current and past investments include PIRCH, Sweaty Betty, Worth, TABI, Restoration Hardware, Baccarat, John Hardy, and Sandro & Maje.