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class="NewsSidebarMarker__SectionTitle-sc-rpyqm4-1 fDSVGZ"><a href="/latest-news">Latest news</a></span><span class="NewsSidebarMarker__PageTitle-sc-rpyqm4-2 ePuyPV">Fenix Outdoor becomes majority owner in Devold to build a leading global wool brand</span></div></section><main class="Wrapper__MainWrapper-sc-1d2aaip-0 kndzBC"><article class="Builder__ModuleWrapper-sc-1e8ojz7-0 bxbqtK news"><section class="Builder__ModuleSection-sc-1e8ojz7-1 edaYuY richText "><div class="WithAnimation__AnimationWrapper-sc-o3ms50-0 hIogEf richText "><section class="RichTextModule__RichTextContainer-sc-1g8nf68-0 bAHcPi richTextModule news"><div><blockquote>March 4, 2025 - Fenix Outdoor International AG, a global leader in the development and sale of premium apparel and equipment for outdoor life, has agreed to acquire 65% of the shares in Devold of Norway AS, a pioneer in wool clothing for outdoor activities and protective workwear. Following completion of the transaction, Devold will become Fenix Outdoorâs number one wool brand.</blockquote></div></section></div><div class="Spacer__StyledDiv-sc-wsgxyh-0 kiqNVb"><div class="center-border"></div></div></section><section class="Builder__ModuleSection-sc-1e8ojz7-1 edaYuY richText "><div class="WithAnimation__AnimationWrapper-sc-o3ms50-0 hIogEf richText "><section class="RichTextModule__RichTextContainer-sc-1g8nf68-0 kXLHsS richTextModule news"><div><p>âWe have searched extensively for a premium wool brand to complement our portfolio and have now found the right partner. Honouring Devoldâs heritage and high quality standards, we are eager to introduce outdoor enthusiasts and adventurers to Devoldâs high-performance garments and build a leading global wool brand,â said Martin Axelhed, Executive Vice President of Fenix Outdoor.</p><p>âFenix Outdoor is a perfect match for Devold, with its global position, premium outdoor brands and retail network renowned for its service and professionalism towards quality conscious customers. Their commitment to sustainability and enabling unforgettable moments in nature aligns with Devoldâs core values and our uncompromising focus on quality, comfort and innovative technical solutions,â said Ãystein Vikingsen Fauske, CEO of Devold.</p><p>The transaction is expected to contribute positively to Fenixâs profitability already in 2025, with closing expected during March. Fenix will pay 35 MEUR for the 65% stake in Devold through a combination of cash and 112,898 Fenix Outdoor treasury shares. The seller is Flakk Group, a Norweg
176ian based family-owned business with investments in private and public companies across multiple industries. Flakk Group retains a 35% stake in Devold.</p><p>âWe share a common vision of making nature more accessible for people around the world. By combining forces with Fenix Outdoor, we get a strong partner to deliver on our international growth strategy and drive substantial long-term value creation,â said Knut Flakk, the Chair of Devold.</p><p>O.A.D. will remain fully owned by the Flakk Group, continuing its journey to crafting luxury wool clothing inspired by Ole Andreas Devoldâs pioneering spirit.</p><p>Capient AS acted as strategic and financial adviser to Flakk Group and Devold. Schjødt AS acted as legal adviser to Devold and Flakk Group, while Advokatfirmaet Hjort AS was legal adviser to Fenix Outdoor.</p><p></p><p>If any further questions, please contact:</p><p>Devold CEO Ãystein Vikingsen Fauske, +47 924 61 952</p><p>Flakk Group Chairman Knut Flakk, +47 997 46 000</p><p><br/></p><h4>About Devold</h4><p>Since 1853, Devold has been a pioneer in outdoor wool clothing for all type of weather conditions. From the beginning and until today, innovative products have played a crucial role in many major expeditions both domestically and internationally. At Devold, there is an uncompromising focus on quality, and the history, heritage, and mentality are deeply rooted within in the brand story.</p><p>Committed to preserving their values for future generations. The company develop and produce underwear, middle layers, outerwear, classic sweaters, socks, and other wool accessories. About 40 percent of its wool products are sold internationally, primarily within the European market.</p><p></p><h4>About Fenix Outdoor</h4><p>Home to Fjällräven, Tierra, Hanwag, Royal Robbins and Frilufts Retail, Fenix Outdoor is an international group of premium outdoor brands focused on products for nature and outdoor life. Our mission is to enable all people to spend unforgettable and inspiring moments in nature.</p><p></p><p><a href="https://www.devold.com/en-gb/">Devold of Norway</a> <br/><br/><a href="https://career.fenixoutdoor.se/">Fenix Outdoor</a> </p></div></section></div><div class="Spacer__StyledDiv-sc-wsgxyh-0 kiqNVb"><div class="center-border"></div></div></section></article></main><footer class="Footer__FooterComponent-sc-e4ehk5-0 crHouX w100 flex justify-center"><div class="grid-wrapper w100"><div class="button-row"><button class="Button__StyledButton-sc-swjof6-0 jgJWZQ scrolltop-button align-center"><p>Back to top</p><svg width="32" height="32" viewBox="0 0 32 32"><g id="Group_474" data-name="Group 474" transform="translate(-1276 -23)"><path id="Path_347" data-name="Path 347" d="M16,0A16.109,16.109,0,0,1,30.108,8.447,15.649,15.649,0,0,1,32,16,16,16,0,1,1,16,0Z" transform="translate(1276 55) rotate(-90)" fill="#322e2b"></path><path id="Path_347_-_Outline" class="svg-outline" data-name="Path 347 - Outline" d="M16,1A15,15,0,0,0,5.393,26.607,15,15,0,0,0,31,16a14.632,14.632,0,0,0-1.764-7.065A15.08,15.08,0,0,0,16,1m0-1A16.109,16.109,0,0,1,30.108,8.447,15.649,15.649,0,0,1,32,16,16,16,0,1,1,16,0Z" transform="translate(1276 55) rotate(-90)" fill="#fff"></path><g class="arrow"><path id="Line_40" data-name="Line 40" d="M.791,9.885-.791,8.661,6.387-.612,7.969.612Z" transform="translate(1300.92 34.58) rotate(99)" fill="#fff"></path><path id="Line_41" data-name="Line 41" d="M6.388,9.885-.791.612.791-.612,7.969,8.661Z" transform="translate(1292.49 33.129) rotate(81)" fill="#fff"></path></g></g></svg></button></div><div class="w100 footer-content"><div class="column align-center flex logo-container"><svg class="desktop-logo" xmlns="http://www.w3.org/2000/svg" width="261.22" height="183.446" viewBox="0 0 261.22 183.446"><path id="Path_86" data-name="Path 86" d="M292.772,88.132l-11-50.912a2.31,2.31,0,0,0-2.115-1.6H262.709V27.2h5.9a1.918,1.918,0,0,0,0-3.837h-7.814a1.919,1.919,0,0,0-1.919,1.919V35.618h-7.477a1.919,1.919,0,0,0-1.875,1.513l-11,50.912a1.919,1.919,0,0,0,1.875,2.324h20.4a1.918,1.918,0,0,0,1.918-1.918V39.455h5.874V88.537a1.919,1.919,0,0,0,1.918,1.919h20.4a1.918,1.918,0,0,0,1.875-2.324Zm-33.9-1.6h-16.1l10.17-47.075h5.929Zm13.547.089V39.455h5.911c1.646,7.619,9.373,43.385,10.19,47.164Z" transform="translate(-135.035 -23.366)" fill="#fff"></path><g id="Group_48" data-name="Group 48" transform="translate(0 109.435)"><g id="Group_5" data-name="Group 5" transform="translate(0 0)"><path id="Path_2" data-name="Path 2" d="M499.431,267.736l.042,9.583-4.54.018-.1-23.535,8.844-.04c3.024-.014,4.81.72,6.128,2.091a7.352,7.352,0,0,1,.042,9.751c-1.27,1.351-3.085,2.1-6.109,2.113Zm4.083-4.053a3.549,3.549,0,0,0,2.853-.954,2.836,2.836,0,0,0,.767-1.988,2.908,2.908,0,0,0-.783-2.013,3.566,3.566,0,0,0-2.862-.931l-4.1.019.025,5.886Z" transform="translate(-250.452 -253.668)" fill="#fff"></path><path id="Path_3" data-name="Path 3" d="M449.558,275.416c-1.957-1.737-3.045-4.222-3.06-7.82l-.061-13.617,4.538-.019.061,13.953a5.533,5.533,0,0,0,1.566,4.364,6.047,6.047,0,0,0,8-.035,5.52,5.52,0,0,0,1.529-4.377l-.061-13.955,4.538-.019.061,13.617c.014,3.6-1.05,6.09-2.991,7.846a11.508,11.508,0,0,1-14.124.061Z" transform="translate(-229.953 -253.724)" fill="#fff"></path><path id="Path_4" data-name="Path 4" d="M405.4,253.6a12.105,12.105,0,1,1-12.22,12.159A11.886,11.886,0,0,1,405.4,253.6Zm.089,20.173a8.077,8.077,0,1,0-7.771-8.036A7.815,7.815,0,0,0,405.491,273.773Z" transform="translate(-207.394 -253.6)" fill="#fff"></path><path id="Path_5" data-name="Path 5" d="M359.5,267.5l.047,10.422-4.54.021-.1-23.538,8.573-.038a7.125,7.125,0,0,1,5.152,1.726,6.593,6.593,0,0,1,.042,9.62,6.068,6.068,0,0,1-2.346,1.388l8.856,10.755-5.615.023-8.42-10.389Zm3.748-4.05a2.783,2.783,0,0,0,2.283-.718,2.692,2.692,0,0,0,.663-1.784,2.731,2.731,0,0,0-.68-1.812,2.767,2.767,0,0,0-2.288-.731l-3.767.018.021,5.04Z" transform="translate(-191.179 -253.927)" fill="#fff"></path><path id="Path_6" data-name="Path 6" d="M308.223,266.126a7.92,7.92,0,0,0,8.071,8.034,8.232,8.232,0,0,0,5.237-1.838l-.02
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176E-mail: <a href="mailto:[email protected]">[email protected]</a></p><p>Korsegata 8<br/>6002 Ã
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176<script id="__NEXT_DATA__" type="application/json">{"props":{"pageProps":{"page":{"slug":{"current":"fenix-outdoor-becomes-majority-owner-in-devold-to-build-a-leading-global-wool-brand","_type":"slug"},"headerImage":{"url":"https://cdn.sanity.io/images/zkqihy5d/production/f3d86643b644a64afb73d535f0e6f8c8aaf7cbde-800x533.png","height":533},"title":"Fenix Outdoor becomes majority owner in Devold to build a leading global wool brand","mobileHeaderImage":{"url":"https://cdn.sanity.io/images/zkqihy5d/production/f3d86643b644a64afb73d535f0e6f8c8aaf7cbde-800x533.png","width":800,"height":533},"headerTitle":"Fenix Outdoor becomes majority owner in Devold of Norway","seo":{"image":{"_type":"image","asset":{"_ref":"image-f3d86643b644a64afb73d535f0e6f8c8aaf7cbde-800x533-png","_type":"reference"}},"_type":"seo"},"alignment":"right","useHeaderImage":true,"modules":[{"textAlignment":"left","content":[{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"March 4, 2025 - Fenix Outdoor International AG, a global leader in the development and sale of premium apparel and equipment for outdoor life, has agreed to acquire 65% of the shares in Devold of Norway AS, a pioneer in wool clothing for outdoor activities and protective workwear. Following completion of the transaction, Devold will become Fenix Outdoorâs number one wool brand.","_key":"45da3dd550f4"}],"_type":"block","style":"blockquote","_key":"3002e8ad4303"}],"_type":"richText"},{"textAlignment":"right","content":[{"markDefs":[],"children":[{"text":"âWe have searched extensively for a premium wool brand to complement our portfolio and have now found the right partner. Honouring Devoldâs heritage and high quality standards, we are eager to introduce outdoor enthusiasts and adventurers to Devoldâs high-performance garments and build a leading global wool brand,â said Martin Axelhed, Executive Vice President of Fenix Outdoor.","_key":"e08d5a74bdfe","_type":"span","marks":[]}],"_type":"block","style":"normal","_key":"d4b5ce3ce304"},{"markDefs":[],"children":[{"text":"âFenix Outdoor is a perfect match for Devold, with its global position, premium outdoor brands and retail network renowned for its service and professionalism towards quality conscious customers. Their commitment to sustainability and enabling unforgettable moments in nature aligns with Devoldâs core values and our uncompromising focus on quality, comfort and innovative technical solutions,â said Ãystein Vikingsen Fauske, CEO of Devold.","_key":"9c5ec94eb8b90","_type":"span","marks":[]}],"_type":"block","style":"normal","_key":"7ec0397df8e3"},{"style":"normal","_key":"4b0b23492312","markDefs":[],"children":[{"marks":[],"text":"The transaction is expected to contribute positively to Fenixâs profitability already in 2025, with closing expected during March. Fenix will pay 35 MEUR for the 65% stake in Devold through a combination of cash and 112,898 Fenix Outdoor treasury shares. The seller is Flakk Group, a Norwegian based family-owned business with investments in private and public companies across multiple industries. Flakk Group retains a 35% stake in Devold.","_key":"c47bd9d705e50","_type":"span"}],"_type":"block"},{"children":[{"text":"âWe share a common vision of making nature more accessible for people around the world. By combining forces with Fenix Outdoor, we get a strong partner to deliver on our international growth strategy and drive substantial long-term value creation,â said Knut Flakk, the Chair of Devold.","_key":"a29474fdb1650","_type":"span","marks":[]}],"_type":"block","style":"normal","_key":"0d2970b4aff5","markDefs":[]},{"style":"normal","_key":"e92180733e98","markDefs":[],"children":[{"marks":[],"text":"O.A.D. will remain fully owned by the Flakk Group, continuing its journey to crafting luxury wool clothing inspired by Ole Andreas Devoldâs pioneering spirit.","_key":"09c20156daa30","_type":"span"}],"_type":"block"},{"style":"normal","_key":"65cafaba4614","markDefs":[],"children":[{"_type":"span","marks":[],"text":"Capient AS acted as strategic and financial adviser to Flakk Group and Devold. Schjødt AS acted as legal adviser to Devold and Flakk Group, while Advokatfirmaet Hjort AS w
176as legal adviser to Fenix Outdoor.","_key":"f58ea96661270"}],"_type":"block"},{"_type":"block","style":"normal","_key":"96fa67b0a1eb","markDefs":[],"children":[{"_key":"2563cbe206210","_type":"span","marks":[],"text":""}]},{"_key":"67c8eb1ea789","markDefs":[],"children":[{"_key":"fb07d760a28b0","_type":"span","marks":[],"text":"If any further questions, please contact:"}],"_type":"block","style":"normal"},{"style":"normal","_key":"8d0099fb0578","markDefs":[],"children":[{"_key":"e2421d72ede60","_type":"span","marks":[],"text":"Devold CEO Ãystein Vikingsen Fauske, +47 924 61 952"}],"_type":"block"},{"_type":"block","style":"normal","_key":"f2a9914205e3","markDefs":[],"children":[{"marks":[],"text":"Flakk Group Chairman Knut Flakk, +47 997 46 000","_key":"b55fcb9ce00e0","_type":"span"}]},{"_key":"de89fe99cadb","markDefs":[],"children":[{"text":"\n","_key":"6cd737ca95d10","_type":"span","marks":[]}],"_type":"block","style":"normal"},{"_type":"block","style":"h4","_key":"da256b4a59f0","markDefs":[],"children":[{"_key":"9ce565d3c77d0","_type":"span","marks":[],"text":"About Devold"}]},{"children":[{"_key":"4cc1566da7210","_type":"span","marks":[],"text":"Since 1853, Devold has been a pioneer in outdoor wool clothing for all type of weather conditions. From the beginning and until today, innovative products have played a crucial role in many major expeditions both domestically and internationally. At Devold, there is an uncompromising focus on quality, and the history, heritage, and mentality are deeply rooted within in the brand story."}],"_type":"block","style":"normal","_key":"4af3bd913e0a","markDefs":[]},{"_key":"87bbcfd4286c","markDefs":[],"children":[{"_type":"span","marks":[],"text":"Committed to preserving their values for future generations. The company develop and produce underwear, middle layers, outerwear, classic sweaters, socks, and other wool accessories. About 40 percent of its wool products are sold internationally, primarily within the European market.","_key":"aec3726bd5010"}],"_type":"block","style":"normal"},{"children":[{"_type":"span","marks":[],"text":"","_key":"81c264484ccc0"}],"_type":"block","style":"normal","_key":"7a6fbeb48c67","markDefs":[]},{"_key":"5afdc1444afb","markDefs":[],"children":[{"_type":"span","marks":[],"text":"About Fenix Outdoor","_key":"76da871915c20"}],"_type":"block","style":"h4"},{"markDefs":[],"children":[{"marks":[],"text":"Home to Fjällräven, Tierra, Hanwag, Royal Robbins and Frilufts Retail, Fenix Outdoor is an international group of premium outdoor brands focused on products for nature and outdoor life. Our mission is to enable all people to spend unforgettable and inspiring moments in nature.","_key":"a06e7a6b369e0","_type":"span"}],"_type":"block","style":"normal","_key":"9ce1e4f089bb"},{"_key":"7fac24ae5c3b","markDefs":[],"children":[{"marks":[],"text":"","_key":"827d6c195dc4","_type":"span"}],"_type":"block","style":"normal"},{"markDefs":[{"href":"https://career.fenixoutdoor.se/","_key":"65188d3472a5","_type":"link"},{"_key":"026190b6f3ef","_type":"link","href":"https://www.devold.com/en-gb/"}],"children":[{"marks":["026190b6f3ef"],"text":"Devold of Norway","_key":"e8e2efa86f8e","_type":"span"},{"_type":"span","marks":[],"text":" \n\n","_key":"5fb1cc4db194"},{"marks":["65188d3472a5"],"text":"Fenix Outdoor","_key":"6ef16f19cf7c","_type":"span"},{"text":" ","_key":"066622ce834d","_type":"span","marks":[]}],"_type":"block","style":"normal","_key":"d8c6114a9c9c"}],"_type":"richText"}],"_type":"news"},"siteSettings":{"footer":{"footerLinks":[{"linkTitle":"About","link":"the-family"},{"linkTitle":"The Company","link":"the-company"},{"link":"get-in-touch","linkTitle":"Contact"}],"footerText":[{"markDefs":[{"_type":"link","href":"tel:+4770116430","_key":"a81745ccbc66"},{"_type":"link","href":"mailto:[email protected]","_key":"c967ee162409"}],"children":[{"_key":"90f912b12929","_type":"span","marks":[],"text":"Flakk Gruppen AS\nTel: "},{"text":"+ 47 70 11 64 30","_key":"c4fcb7d79199","_type":"span","marks":["a81745ccbc66"]},{"text":"\nE-mail: ","_key":"1949c17a3910","_type":"span","marks":[]},{"_key":"687ce4b8c4d7","_type":"span","marks":["c967ee162409"],"text":"[email protected]"}],"_type":"block","style":"normal","_key":"04b0acad304e"},{"_key":"b67c4351559a","markDefs":[],"children":[{"text":"Korsegata 8\n6002 Ã
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