Luhta – Acquisition of Balmuir

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We advised Polap-Team Oy in the acquisition of Wheslyn Group Oy, the owner of the lifestyle and fashion brand Balmuir. The transaction included all of the shares in the company and Balmuir will keep on functioning as an independent subsidiary of Polap-Team Oy. Polap-Team Oy is the parent company of the Finnish L-Fashion Group from Lahti, Finland. L-Fashion Group is the largest Nordic apparel company and it owns, among other things, the Luhta and Icepeak brands.

Balmuir is a rapidly growing lifestyle and fashion brand offering fashion accessories and interior decoration items. The acquisition supports the growth strategy of Balmuir and strengthens its international operation. ‘We have strong faith in the future growth potential of Balmuir domestically as well as abroad. Balmuir has its strengths in high-quality fashion accessories, home textiles and gift items. Our goal is to develop the company towards international growth’, says the CEO of Polap-Team Oy Tiina Luhtanen.