California-based footwear, apparel and accessories company Phoenix Footwear Group, Inc. is to sell its Royal Robbins apparel division to clothing and soft goods marketer Kellwood Company for approximately $40 million in cash. The boards of directors for both companies have unanimously approved the transaction, which is expected to close within the next 30 days, subject to customary closing conditions.

Phoenix Footwear expects to report a pre-tax gain of approximately $23 million for the sale, having acquired the brand on October 31, 2003, for $11.7 million. Founded in 1968 by outdoor enthusiasts, Royal and Liz Robbins, its Go Everywhere line of technical clothing gear, featuring lightweight, wrinkle-resistant Supplex nylon, is often used by hikers, kayakers and other outdoor enthusiasts. In 2006, the brand’s sales totalled $32 million compared with $25 million and $21 million in 2005 and 2004, respectively.