Children’s clothing company Hanna Andersson has been acquired by Connecticut-based private equity firm L Catterton. The terms of the deal aren't being disclosed, however, the firm said it plans to keep Hanna Andersson's management team, including CEO Adam Stone, who will continue to operate the business from its Portland, Maine headquarters. The children’s clothing retailer has 55 stores and 11 outlets across the country, as well as an e-commerce and catalog business.
Total Retail’s Take: Hanna Andersson is a retail success story, having generated double-digit annual sales growth over the last six years in its catalog, online and retail business. Now that L Catterton has acquired the brand, it plans to fund an expansion of brick-and-mortar stores both in the U.S. and abroad. This should keep Hanna Andersson’s children’s clothing sales growing — in one of the mot lucrative segments of the apparel industry.