The Timberland Company has signed an agreement to acquire 100 per cent of the outstanding stock of the SmartWool Corporation. The recent announcement values the Colorado-based supplier of performance socks, technical base layer apparel and accessories at approximately $82 million.
The premium price paid for the company suggests that Timberland recognises the potential for joint synergy between the two brands, with SmartWool set to benefit from increased investment and joint initiatives such as the recent partnership to develop Timberland footwear with SmartWool Linings.
Timberland’s experience in developing and managing sophisticated fulfilment and logistics operations will be of substantial benefit to SmartWool as the brand continues to grow. The intention is to operate SmartWool as a wholly-owned subsidiary of The Timberland Company and not to merge the brands.
The SmartWool brand has grown rapidly in the UK over the past four years to be a strong player in the specialist sock and base layer markets, with the brand available through an established network of sports retailers nationwide.
Distributed and marketed in the UK by Anatom, the latest announcement will have no immediate effect on the existing marketing and operations of the brand.