Canada Goose Acquires Baffin Inc. for $32.5 million



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  • Toronto-based Canada Goose said it would pay $32.5 million to Baffin - mainly focusing on industrial and outdoor boots but added a line of clothing in 2011. The transaction was completed in cash and issued 1.5 million Canadian dollars of restricted subordinate voting shares to the seller.
Toronto-based Canada Goose said it would pay $32.5 million to Baffin - mainly focusing on industrial and outdoor boots but added a line of clothing in 2011. The transaction was completed in cash and issued 1.5 million Canadian dollars of restricted subordinate voting shares to the seller. < p style="text-align: center;">

The ownership of Canada Goose would help the Baffin brand realize its full potential / Ph. Pinterest

"Its a really exciting part of our footwear journey and its a really important part of our long-term growth strategy. Baffin is the gold standard when it comes to cold-weather footwear. And I have seen many apparel companies try and get into footwear and fail, and we wanted to find, for us, the best formula for winning,” said Dani Reiss, CEO of Canada Goose.

“I have known and admired Baffin president Paul Hubner for years, and watched as he has developed innovative new designs and built a thriving business that is known for making the best and warmest boots. For decades, our products have lived side-by-side in the coldest places on Earth. The Arctic heritage and best-in-class functionality of Baffin boots are synonymous with what Canada Goose stands for” he continued.

Huber, an expert in building and designing heat insulation shoes, tested his products at the North and South extremes, on Mount Everest and Mount Rainier. Baffins origins date back to 1979.

Huber said the ownership of Canada Goose would help the Baffin brand realize its full potential. He will continue to operate the business, which will become a branch of Canada Goose. The fashion brand will operate out of its headquarters in Stoney Creek, Ontario.

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Canada Goose has expanded rapidly in recent years including brought the fashion brand to international reach. Also, it opened up retail stores abroad, added knitwear and rainwear to its product line.

This is an excellent opportunity for both to develop together. Let's wait and see how they work together successfully.

Canada Goose Acquires Baffin Inc. for $32.5 million

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