Investment fund EQT VII acquires Swedish shirt maker Eton

Eton, the Swedish shirt artisan maker, has changed hand. Until now owner Litorin has sold its reference stake in the retailer to EQT VII investment fund.

“This is going to help the company be further developed” assured Eton president, Hans Davidsson.

Eton family business was founded in 1928 by Hans Davidsson's grandmother. In 2012 they sold a majority stake to Litorin, being the latter a key aid for the company's turnover plan.

The Davidsson family is now selling its remaining minority stake (35 percent of total ownership), with Hans Davidsson retaining a residual stake. The amount paid remains undisclosed.

Eton is currently present in 1,300 locations across 43 countries. Market sources point out that Eton is likely to close its books for the year with 670 million Swedish krone worth of sales. Compared to 2014, this represents a 25 percent increase year-on-year.