The transaction is expected to close during February 2012.
Led by CEO Per Mørck, who will be investing in the company along with his management team, PM Retail designs fashionable clothing that addresses the specific needs and preferences of mature women. The company sells its products under its own brands and through its own network of 45 retail stores in Norway.
In 2011, PM Retail had turnover of approx. 290m Norwegian kroner with earnings before interest, taxes, depreciation and amortisation (EBITDA) of approx. 65m Norwegian kroner.