Setterwalls has assisted Fristads Kansas AB and its owners in connection with the divestment of Fristads, Kansas and Leijona to Hultafors Group AB.
Fristads, Kansas and Leijona are well-known brands within professional workwear for a number of different end-users and have a significant presence in their respective key markets in Sweden, Denmark and Finland. The brands' total annual sales amount to approximately SEK 1.2 billion. The workwears from Fristads, Kansas and Leijona are developed with a focus on innovation and sustainability, they are functional, durable and well adapted for their users. During the fourth quarter of 2020, Fristads Kansas Group and Hultafors Group AB announced that an agreement had been reached regarding Hultafors Group's acquisition of the companies within the Fristads Kansas Group that conducted operations with the Fristads, Kansas and Leijona brands. The transaction received approval from the relevant competition authorities during the first quarter of 2021 and the transaction was completed on March 1, 2021.
Fristads Kansas Group's remaining operations will now be sold to a newly formed holding company and will continue to develop under the new group name The Cotton Group. The new holding company will continue to develop and strengthen the remaining brands B&C, Clinic Dress, Sverre W Monsen, Weenas, Hejco and Martinson. The operations reached sales in excess of EUR 200 million in 2020 and The Cotton Group is now investing in rapid and organic growth within relevant segments.
Setterwalls has acted as legal advisor to the Fristads Kansas Group (onwards The Cotton Group) throughout the entire sales process, including the process vis-à-vis relevant competition authorities.