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Industry: Email Alert RSS FeedFOOTNOTES: TIMBERLAND TO ACQUIRE SMARTWOOL FOR $82M...NEW RUNNING SHOE RACES AHEAD OF ITS RELEASE...JUSTIN BOOTS THINKS PINK.(business)
Footwear News, November, 2005
Timberland to Acquire SmartWool for $82M
Stratham, N.H.-based Timberland is adding another name to its roster.
The footwear giant said last week that it planned to acquire SmartWool, a maker of socks and accessories, for about $82 million. Timberland signed an agreement to buy all of SmartWool's outstanding stock from RAF Industries and Stripes Group LLC. It expects the deal to close by mid-December. SmartWool, which will operate as an independent subsidiary of Timberland, is expected to add 2 cents to 3 cents to the company's earnings per share in 2006. The company, based in Steamboat Springs, Colo., will continue to operate under the leadership of its president, Chip Coe.
"SmartWool and Timberland share a common heritage as authentic...
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