Canada Goose has agreed to sell its performance footwear brand Baffin Limited to Canadian work and military footwear manufacturer L.P. Royer Inc., a move the outerwear company says is about focus and simplifying its operating model. Terms of the deal were not disclosed, but the transaction is expected to close this month subject to customary closing conditions. Canada Goose originally acquired Baffin in 2018 for 32.5 million Canadian dollars, a purchase that laid the groundwork for the launch of its own footwear collection in 2021. Under Royer, Baffin will continue to operate as a separate brand, and the entire Baffin team will join the Royer Group, which intends to invest in the brand and leverage its manufacturing expertise to grow it globally.
Canada Goose Holdings IncDivestiture of Baffin simplifies operations and focuses on core outerwear business.
Acquisition of Baffin expands L.P. Royer's brand portfolio and manufacturing expertise.
