RNB Retail and Brands AB has announced that the company reached an agreement to sell Polarn O. Pyret to Procuritas for a preliminary value of 330 million Swedish krona on a cash and debt-free basis.
“During the past year’s pandemic, Polarn O. Pyret has proved that the company has an attractive offer and that it remains resilient and very competitive in e-commerce. The sale is the result of all the hard work in making the company better equipped for the future. I am confident that Procuritas will be a great steward of Polarn O. Pyret,” said Kristian Lustin, CEO of RNB Retail and Brands.
The company had previously announced a process to separate the group subsidiaries and ultimately divest the subsidiaries to stable and suitable owners. The company divested the business of Departments & Stores earlier this year.
Image: Polarn O. Pyret, Facebook