Puma and VF bidding for Helly Hansen
The outdoor brands market is staying the course. According to the Sunday Times, Puma is looking to acquire shares in Helly Hansen. The German outdoor brand, however, had no comment. Puma, which belongs to the new Sport&Lifestyle division of PPR, has never made a secret of its interest in the outdoor sports market.
Helly Hansen campaign
Jochen Zeitz, Puma's iconic boss and head of the division, has already gotten his hands on Volcom in 2011 and further acquisitions were envisaged in order to lend weight to the sector which is the main driving force, along with luxury goods, for the French group. The British daily announced that VF would also be in the running. The American group has also in recent years developed this division of its business, which includes The North Face, adding Timberland to its portfolio of brands in 2011. Adidas, In turn, has relied on its eponymous label for its expected turnover of half a billion euros in the outdoors sector by 2015.
Helly Hansen is valued at 200 million pounds sterling, or about 240 million euros. The Norwegian brand has been owned, since November 2006, by Altor Fund, which has a broad portfolio of Scandinavian companies. Helly Hansen’s 2010 revenues are estimated at about 170 million euros.
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