USA: Columbia Sportswear to Acquire Sorel Brand
International outdoor apparel and footwear manufacturer Columbia Sportswear Company (Nasdaq:COLM - news) announced yesterday that it is acquiring the Sorel trademark rights, associated brand names and other related intellectual property rights for approximately $8m in cash. The acquisition will be financed with operating cash flow. "Internationally, the Sorel name has been associated with the design and creation of durable, cold-weather footwear for nearly 40 years," said Tim Boyle, Columbia's president and chief executive officer. "Sorel's reputation as a quality, value-oriented brand is a superb fit with Columbia's footwear business. This acquisition will enable us to leverage our competitive advantages in sourcing and allow us to explore new channels of retail distribution without compromising the Columbia Sportswear brand. It's an excellent way to enhance the growth of our business in the rugged, cold-weather boot market." The transaction, which is subject to certain conditions that include approval by the bankruptcy judge of the Ontario Superior Court of Justice, is expected to close in early September 2000. William H Kaufman Inc, owner of the Sorel brand, recently entered 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.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-style gives you the widest apparel and textile market coverage.
Paid just-style members have unlimited access to all our exclusive content - including 17 years of archives.
It’s our best ever membership offer – just for you.
Leonie Barrie, editor of just-style
Help test our new apparel sourcing tool.
- "Power of the many" drives change at Otto Group
- Hard hit Turkish industry is not knocked out
- China leads US apparel sources with falling prices
- Wage abuses can’t be eliminated by software and PR
- US apparel sector braces for potential cost hikes
- US Q4 in brief – Foot Locker, Nordstrom, Carter's
- JC Penney to close 140 stores amid lower sales
- Inditex and H&M boycott Dhaka Apparel Summit
- Bangladesh government steps in on labour crackdown
- Bangladesh calls for duty-free access to US
- When Things Go Wrong - A Practical Guide to Managing Common Problems in Apparel Sourcing
- Outdoor performance apparel 2016: A broader perspective
- Technical textile markets: product developments and innovations, December 2016
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Global market review of lingerie – forecasts to 2022