Children’s apparel and footwear retailer, Hanna Andersson, is joining the L Catterton fold. The consumer-focused private equity firm announced Thursday it has acquired the 33-year-old business for an undisclosed sum.
Through the acquisition, Hanna Andersson plans to “rapidly expand” its retail store presence by adding to its footprint in the U.S. and internationally. Adam Stone will continue to lead Hanna Andersson as president and chief executive officer.
Nik Thukral, co-managing partner of L Catterton’s Buyout Fund, said the firm sees “incredible opportunity” for the brand, which has been on a growth spurt since 2010. The company plans to grow its traditional product categories, while adding new offerings and elevated styles.
In a statement, Stone said, “L Catterton has a unique appreciation for our company’s deep emotional connection with customers, who are fiercely loyal to—and constant promoters of—the 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 United States, while remaining true to our heritage of creating unique designs that let kids be kids.”
L Catterton’s current and past investments include Sweaty Betty, Worth, Restoration Hardware, Baccarat, Sandro and Maje.