Varner invests in EXP Group

EXP Group announced on June 7th 2017 that they are joining forces with Varner to invest in and develop companies focusing on exponential technology with a mission to have positive impact on society. The agreement includes a private placement of EXP Group shares worth NOK 150m directed at Varner.

EXP Group is taking aim at solving the greater challenges in society through exponential organisations and technology, and believes in both financial returns and positive impact on society through impact investing.

Alpha Corporate Finance has acted as exclusive financial advisor to EXP Group in the transaction.

EXP Group is an exponential organization with impact that is at least 10x larger compared to its peers because of the use of new organizational techniques that leverage accelerating technologies. EXP Group comprises Plastilin, a holding company invested in private companies and startups, and Nordic Impact, a company that invests in startups based around technology with a mission to have a positive impact on society.

Varner is one of Scandinavia’s leading textile companies, with close to 11 000 employees, and have 1 500 stores across eight countries: Norway, Sweden, Finland, Denmark, Iceland, Poland, Germany and Austria. Varner is comprised of the concepts A-Z, Bik Bok, Carlings, Cubus, Days Like This, Dressmann, Dressmann XL, Urban, Vivikes, Volt, Wow, Solo, Levi’s Store, Nike Store and Denim & Supply. Frank Varner founded the privately owned family business in 1962, which is now owned by the second and third generation, and led by Petter, Marius and Joakim Varner.

News article in Dagens Næringsliv (Norwegian only)