Winona exits sports fashion retailer KJUS

Following the transaction, the founders will continue to work with the company as special advisers, but will step down from their official positions. Winona Capital had a minority stake in the company, according to Unquote sister publication Mergermarket.

Following the transaction, Acushnet will continue to run KJUS's operations from its Hünenberg headquarters. The ski and golf divisions will be run by KJUS employees Nico Serena and Brooke Mackenzie respectively.

Prior to the sale, Mergermarket reported that the company generates around CHF 40m in sales and CHF 5m in EBITDA, and that the vendors were looking for a valuation of up to 12x EBITDA.

Previous funding
Winona provided a growth equity investment in 2013. It used its Winona Capital Partners II fund, which held an interim close on €165m in 2014. The fund wrote equity tickets of $5-20m to companies in the consumer sector in the sportswear, lifestyle products and retail segments.

Company
Headquartered in Hünenberg, KJUS was founded in 2000 by Olympic ski champion Lasse Kjus and entrepreneur Didi Serena. The company produces technical outdoor golf, ski and lifestyle clothing for men, women and children. It operates branded stores in Switzerland, Austria and the US, with an R&D office in Vietnam, and employs 110 people. 

People
Acushnet – David Maher (president, CEO).
KJUS – Didi Serena, Lasse Kjus (founders).

Advisers
Vendor – Lincoln International (M&A).

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• Topics
• Exits
• DACH
• Consumer
• Switzerland
• Trade sale