Ontario Teachers Pension Plan gets controlling stake in clothing firm

The corporate logo of Norwegian clothing designer Helly Hansen Group AS is shown. THE CANADIAN PRESS/HO

July 13, 2012 - 3:30 AM

TORONTO - The Ontario Teachers' Pension Plan is dressing up its investments, gaining a majority stake in Norwegian clothing designer Helly Hansen Group AS.

Teachers is acquiring roughly 75 per cent of Helly Hansen from Altor Fund II, which is keeping a quarter take in the company.

The two sides aren't disclosing the financial terms of the deal.

Helly Hansen is headquartered in Oslo and designs and markets outdoor apparel.

It employs 500 people.

Teachers has $117.1 billion in assets and is the largest single-profession pension plan in Canada.

News from © The Canadian Press, 2012

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