Nordic Capital buys majority stake in Gina Tricot

Private equity firm Nordic Capital has acquired a majority stake in Swedish fashion retailer Gina Tricot. Both the size of the

stake and the price paid remain undisclosed.

Nordic Capital announced on Monday it had agreed to buy a majority stake in Gina Tricot from the Appelqvist family. Additionally, Nordic Capital will bring on new capital to boost Gina Tricot's financial position.

Although the private equity firm preferred not o disclosed the sum they paid, nor the size of the stake acquired, the founders of the Swedish clothing retailer will reportedly retain a significant stake in the company.

"Under Nordic Capital's ownership, Gina Tricot will gain access to a pool of capital and extensive experience of the retail market, leaving the company well positioned to execute on a new strategic plan," Nordic Capital said in a statement.

Gina Tricot has 180 stores in Sweden, Norway, Denmark, Finland and Germany and had sales of around 2 billion Swedish crowns last year, as reported by Reuters.