Outdoor apparel brand Canada Goose has announced the acquisition of outdoor and industrial footwear specialist Baffin for for approximately US$25 million, subject to customary closing adjustments.
The deal marks Canada Goose’s first foray into the shoe market. Baffin, which employs 80 people, will continue to operate on a stand-alone basis, with its headquarters remaining in Ontario, Canada.
Dani Reiss, Canada Goose president and CEO, said: “As we continue to execute our current growth initiatives and build an enduring brand for generations to come, Baffin provides us with valuable infrastructure and know-how to start exploring the exciting global footwear category. This strategic and long-term investment is an important first step in Canada Goose’s footwear journey.”
Canada Goose described Baffin as “a recognised leader in technically advanced, high quality products for adventure and work”. It added that the brand’s president Paul Hubner is “an expert in insulated footwear construction and design”.
“I am very excited by this step in our evolution. In joining the Canada Goose family, we could not be in better hands and I look forward to leading the business under their ownership as we realise the full potential of the Baffin brand,” Mr Hubner said.