USA: Columbia Purchases Sorel Brand For $8 Million
International outdoor apparel and footwear manufacturer Columbia Sportswear Company (Nasdaq:COLM) has received approval from the bankruptcy judge of the Ontario Superior Court of Justice to acquire the Sorel brand. Columbia acquired the Sorel trademark rights, associated brand names and other related intellectual property rights for approximately $8 million in cash. The transaction closed September 22, 2000. "The Sorel brand is highly regarded by retailers and consumers throughout the world," said Tim Boyle, Columbia's president and chief executive officer. "We are pleased with the rapid closure of this transaction, and will now devote our efforts to integrating the production of Sorel branded merchandise into our business." William H Kaufman Inc, owner of the Sorel brand, recently entered into bankruptcy proceedings. The company's assets, including inventory, equipment and real property were offered for sale individually or as a group. Columbia chose only to acquire the Sorel brand. Founded in 1938 in Portland, Oregon, Columbia Sportswear Company designs, manufactures, markets and distributes active outdoor apparel and footwear. As one of the largest outerwear manufacturers in the world and the leading seller of skiwear in the United States, the company has developed an international reputation for quality, performance, functionality and value. For more information about Columbia Sportswear, visit the website at
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