Hanna Andersson is starting a new chapter.
The Portland, Ore.-based specialty children’s retailer, which operates 66 stores in addition to robust catalog and e-commerce businesses, has been acquired by private-equity firm L Catterton. Terms of the transaction were not disclosed. Adam Stone will continue to lead the company as president and CEO.
Known for its Swedish-inspired fashions, Hanna Andersson, founded in 1983, has transformed from a small catalog brand into a successful omnichannel player, generating double-digit revenue growth each year since 2010. The company stepped into the shoe category in 2014, with the launch of its own branded casual collection, produced in partnership with Vida Brands. In addition to its own distribution channels, the collection is stocked by selected wholesale accounts.
Now, under new owner L Catteron, Hanna Andersson is looking to significantly expand its retail footprint over the next several years.
“We are thrilled to partner with L Catterton, whose deep knowledge of the consumer market, significant operational expertise and value-added approach will enable us to enter our next phase of rapid growth and success,” Stone said in a statement. “L Catterton has a unique appreciation for our company’s deep emotional connection with our customers, who are fiercely loyal to our brand. We look forward to working with L Catterton and leveraging its distinctive global consumer platform to expand our retail footprint within and outside the U.S.”
Nik Thukral, co-managing partner of L Catterton’s buyout fund, added that Hanna Andersson has tremendous growth potential, particularly internationally.
“Having already achieved significant growth since 2010, Hanna Andersson is primed for even greater expansion as it continues to enhance its traditional product categories while adding new offerings and elevating the brand,” Thukral said. “We believe that together, we can help Hanna Andersson become a premier global lifestyle brand, and we are excited to partner with Adam and the outstanding management team to bring that to life.”