Rite Ventures acquires Frank Dandy Superwear

Rite Ventures acquires Frank Dandy Superwear, a company most known for its underwear collection for men. The company went banktrupt in March 2009 and was acquired by Rite Ventures through an auction process in which several bidders participated. Susanna Bervå, former CEO of MTG Radio and Ark Travel, steps in as acting CEO of Frank Dandy Superwear. Susanna has proven skill in managing turnaround cases from Ark Travel and has helped Ark Travel become the most profitable travel agency in Sweden.



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 During Susanna's four years as CEO, the market cap of Ark Travel increased by 13x and the company was finally acquired by Carlson Wagonlit Travel in 2007. Staffan Persson and Peter Lindell, which are on the board of directors in Rite Ventures, were both large shareholders in Ark Travel and know Susanna since that period. Two of Rite Ventures partners, Staffan Persson and Tommy Jacobson, have extensive experience from fashion retail companies. Staffan Persson is a shareholder and board member of The Lexington Company. Tommy Jacobson is a board member of the stock listed company Venue Retail Group and is through Varenne, also an investor in the Swedish fashion-brand HOPE.