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French sport group Rossignol in exclusive negotiations to buy Dale of Norway
French sport group Rossignol is busy adding to its brand portfolio. After the recent acquisitions of US bicycle manufacturer Felt, and of outdoor/performance equipment brand Raidlight - Vertical, the French group owned by Norwegian investment fund Altor is now negotiating the acquisition of Dale of Norway, which would allow Rossignol to strengthen its position in the winter and sportswear segments.
"For 110 years, Rossignol's success has been driven by innovation, competition and passion. Dale, in the course of its 140-year history, was built up from the same vision, that of adapting long-established traditions to contemporary fashion," wrote Rossignol's President Bruno Cercley in a press release. "Sweaters and knitwear are an essential part of the Rossignol apparel line, and the arrival of Dale is a perfect complement to it," he added.
Above all, Dale of Norway and Rossignol share a passion for the world of Alpine and Nordic skiing. One of Rossignol's brand ambassadors is French biathlete Martin Fourcade, Olympic champion and six times winner of the Biathlon World Cup, while Dale of Norway sponsors the Norwegian skiing team.
Dale of Norway is present in over 25 countries, and also operates an office in the state of Vermont, USA. Its annual revenue is close to €13 million and it has a staff of 62 employees. According to published financial statements, Dale's revenue grew by 22% between 2014 and 2016, and profitability also increased significantly. In the fiscal year 2016, EBIT was approximately €2.3 million, while operating margin rose from 1.4% to 17.9% between 2014 and 2016.
The sale is likely to be finalised before the end of 2017.
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