Textile wholesaler Charles Parsons acquires Line7
16/12/2009
Charles Parsons (NZ) announced some weeks ago that it had acquired the assets of Line7 Limited, an Auckland-based wet weather clothing brand. The deal includes 100% ownership of the brand's intellectual property and all registered trade-marks worldwide.
Textile wholesale firm Charles Parsons has said it will continue the tradition of the brand and ensure continuity of supply to existing customers in the marine and agriculture markets.
At the time of the acquisition, Peter Allard, chief executive of Charles Parsons, said: "We are really excited to have acquired this iconic New Zealand brand and we believe that there are tremendous synergies between the core values of Line7, the technical sourcing capabilities that we have on hand as a long term supplier to Line7, and the overall culture of our company."
Line7 began life in 1963, making wet weather clothing for sailors. The company has provided clothing for crews in the America's cup, Round the World yacht races and the Olympics, as well as motor racing gear. Its former owner, Ross Munro, said: "I have been passionate about the Line7 brand for many years and I’m happy that it has been acquired by Charles Parsons who have a positive vision for its future."
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