Viking Fottøy returns to Norwegian ownership
Oslo-based footwear manufacturer Viking Fottøy AS is once again under Norwegian ownership having been acquired by Bertel O. Steen AS from Netherlands-based Hevea B.V. for €29 million ($37.5 million).
The company currently has a strong position in the Scandinavian market, and is said to offer a solid product range, strong competitiveness and good profitability. Bertel O. Steen, which distributes Asics running shoes and sporting goods to Norway, Sweden and Denmark through Asics Skandinavia AS, will now double sales within the sports and leisure segment to approximately NOK600 million ($93.2 million). More than 60% of these sales will be achieved outside
Viking Fottøy supplies a range of comfortable and waterproof shoes and boots, largely based on Gore-Tex technology.
The company was originally founded in Askim in 1920 by Per Mathias Røwde and at one time had more than 3,000 employees, and included a considerable car tyre manufacturing section. Orkla acquired the company in 1986 and sold it to Hevea B.V. in 2000. Viking’s 2005 turnover was NOK287.1 million with an operating profit of NOK24.75 million.
