础耻蝉迟谤补濒颈补苍听谤别迟补颈濒别谤 聽has agreed to acquire footwear brand . The聽sale could top $60 million,聽.听
Oboz聽Footwear was founded in Bozeman, Montana, in 2007聽and produces hiking, backpacking, travel, and winter footwear.听If you shop at REI, you鈥檙e probably聽familiar with Oboz鈥攖he聽retailer was Oboz鈥檚 first customer. (It sells exclusively through third-party stores.)聽Over the past decade, the company has attracted a loyal following, becoming a go-to for hikers who want聽a high-quality, rugged boot. Kathmandu鈥攖he largest outdoor retailer in聽Australia and New Zealand, with聽over 164聽locations鈥攕igned on shortly after REI to carry Oboz.听
In a press release on Wednesday, John Connelly, president and founder of Oboz,聽said:聽鈥淭he bringing together of two leading outdoor brands with shared values makes good sense because it will enable both brands more opportunities to fulfill their potential.鈥
Kathmandu CEO Xavier Simonet聽added: 鈥淚 admire the success of Oboz in North America. They are an authentic outdoor brand with deep roots in Montana and driven by a passionate and successful team.鈥
How will acquisition by an Australian company affect those roots? According to the statement, Oboz will remain headquartered in Bozeman, and Connelly will continue to lead the company while reporting to Simonet.
Both firms cite strategic reasons for the sale, including wider distribution and greater product diversity. According to the聽statement, Oboz expects the sale to help boost growth and move further into New Zealand and Australia.听The companies are hoping to blend Oboz鈥檚 expertise in wholesale with Kathmandu鈥檚 expertise in retail and bring better products to consumers in both the U.S. and Down Under.
Matt Powell, senior industry adviser for Sports at NPD Group,聽says the acquisition should allow Oboz to expand聽and help Kathmandu diversify its聽offerings. According to the ,聽most of Kathmandu鈥檚 earnings come from fall and winter sales. By scooping up Oboz, it should enjoy more balanced year-round sales. There is no indication that either company is struggling;聽in fact, Kathmandu鈥檚 sales are up .听
Oboz聽declined to聽comment on how or whether its lineup will change.