The new owner of Henri-Lloyd has revealed its future plans for the sailing and lifestyle brand that counts Kate Middleton and Sir Ben Ainslie among its fans.

Switzerland-based sport and outdoor clothing ODLO, which is owned by Monta Rosa Capital, has snapped up the Manchester-based business for a "substantial" undisclosed sum. The deal is expected to be completed "shortly".

Henri-Lloyd last changed hands when it collapsed into administration in June 2018 and was sold to Aligro º£½ÇÊÓƵ in a move that led to 128 jobs being cut.

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The brand was established in 1963 and currently has 85 members of staff in its º£½ÇÊÓƵ retail business.

Chairman Hans Eckerström said: "The acquisition of Henri-Lloyd by ODLO opens up tremendous opportunities for the brand to reach its true potential to the benefit of all shareholders, both current and future.

"Joining a family of successful companies that share values and goals will accelerate our growth. Most importantly that journey will be based on quality, innovation and striving for sustainability – principles that the Henri-Lloyd team hold dearly."

Henri-Lloyd was founded by Henri Strzelecki and currently has partnerships with the likes of the GBR Sail GP Team and INEOS Britannia.

The Henri-Lloyd team will continue to be located in Manchester.

ODLO chairman Hugo Maurstad added: "We are excited about including Henri-Lloyd into our family of brands. It is an iconic brand with a proud history. Together we aspire to further expand its product range and geographic footprint.

"Henri-Lloyd and ODLO are both companies that originated from technical innovations in outdoor sport apparel and they will complement each other going forward."

ODLO chief executive Knut Are Høgberg said: "By leveraging ODLO’s comprehensive infrastructure, we can concentrate investments towards the Henri-Lloyd brand and its customers while progressing on the ambitious sustainability agenda of all brands within ODLO International.

"We warmly welcome the Henri-Lloyd team to the ODLO family and look forward to working together going forward."

Taylors Solicitors advised the owner of Henri-Lloyd on the deal.

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