Canada Goose intends to break into footwear with its acquisition of winter boot brand Baffin.
The goose flies south this winter to your feet in a major acquisition by Canada Goose, announced this week.
Canada Goose Holdings Inc. announced its purchase of Baffin Inc. this week for 32.5 million Canadian dollars ($24.8 million). Baffin will continue to operate on a standalone basis out of its Stoney Creek, Ontario, headquarters.
“The Arctic heritage and best-in-class functionality of Baffin boots are synonymous with what Canada Goose stands for,” Dani Reiss, president and CEO, stated in a press release. “This strategic and long-term investment is an important first step in Canada Goose’s footwear journey.”
Canada Goose Acquires Baffin
The Toronto-based luxury outerwear brand intends to explore the global footwear category with this acquisition. While Canada Goose may be more prevalent in New York City than the Arctic, the brand was founded on cold-weather performance.
Individuals in Antarctic research facilities and the Canadian Arctic trust the performance of Canada Goose. We tested one of its burliest options, the Snow Mantra jacket, and were blown away by its warmth.
“We could not be in better hands, and I look forward to leading the business under their ownership as we realize the full potential of the Baffin brand,” stated Paul Hubner, Baffin president.
Baffin began manufacturing footwear in 1979. Arctic explorers respect the brand’s boots for enduring the harshest cold-weather conditions on Earth. Baffin even nabbed a spot in our men’s and women’s “Best Winter Boots” articles.
Currently, Baffin has 80 employees and predominantly sells in the U.S. and Canada. GearJunkie will monitor the acquisition and update our readers with new boot and gear announcements from both brands.