Helly Hansen acquires Musto
In a statement, Helly Hansen said the acquisition will provide it with a differentiated product offering that will operate alongside Helly Hansen as a premium specialist brand. Following the acquisition, Helly Hansen will invest in Musto's international growth and deepen its technological and sourcing capabilities.
Musto chief executive Peter Smith will continue to lead the business and report to Helly Hansen chief executive Paul Stoneham who will also become executive chairman of Musto.
Founded in 1964 by Olympic sailing medallist Keith Musto, Musto has been granted two Royal Warrants and is an official supplier to both the British National Sailing Team and the British Equestrian Federation through to the 2020 Tokyo Olympic Games.
Stoneham said: "Musto accelerates Helly Hansen's long-term aspiration to become a global leader in sailing, matching our leadership position in professional skiing. Our focus will be to expand Musto internationally as an iconic British lifestyle brand with deep technical sailing credentials alongside Helly Hansen.”
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