Columbia Sportswear Completes Acquisition of Mountain Hardwear, Inc.Business Editors PORTLAND, Ore.--(BUSINESS WIRE)--April 1, 2003 Outdoor apparel and footwear leader Columbia Sportswear Columbia Sportswear Company NASDAQ: COLM is a United States company that manufactures and distributes outerwear and sportswear. Founded in 1938 by the late Paul Lamfrom, father of present chairperson Gert Boyle, the company is headquartered in Portland, Oregon. Company(R) (Nasdaq:COLM COLM Column COLM Colorado National Monument (US National Park Service) COLM Committee On Lay Ministry ) announced today that it has completed its previously announced acquisition of Mountain Hardwear Mountain Hardwear, founded in 1993, is a California (USA) -based company that manufactures outdoor clothing, backpacks, sleeping bags, and tents. Columbia Sportswear purchased Mountain Hardwear in 2003 for a purchase price of $30 million in cash and $6 million in debt. , Inc. The aggregate consideration was approximately $36 million, including approximately $30 million in cash and $6 million in debt assumption. A wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Columbia Sportswear merged with and into Mountain Hardwear effective March 31, 2003. As a result of the merger, Mountain Hardwear is now a wholly-owned subsidiary of Columbia Sportswear. About Mountain Hardwear, Inc. A small group of outdoor industry veterans founded Mountain Hardwear, Inc. in 1993 to design, source and market high-end outdoor equipment, apparel and accessories. Having won numerous product and customer service awards since inception, the Company now distributes its products through specialty outdoor and sporting goods retailers in the United States and in 25 countries worldwide. Based in Richmond, Calif., Mountain Hardwear recorded an unaudited $31.4 million in revenue during 2002. For more information about Mountain Hardwear, please visit www.mountainhardwear.com. About Columbia Sportswear Company Founded in 1938 in Portland, Ore., Columbia Sportswear Company is a global leader in the design, sourcing, marketing and distribution of active outdoor apparel and footwear. As one of the largest outerwear brands in the world and the leading seller of skiwear ski·wear n. Clothing appropriate for various types of skiing. in the United States, the Company has developed an international reputation for quality, performance, functionality and value. To learn more about Columbia Sportswear, Convert and the Sorel Sorel (sôrĕl`), city (1991 pop. 18,786), S Que., Canada, at the confluence of the St. Lawrence and Richelieu rivers. It is a grain-shipping center with an important shipbuilding industry. brands, please visit the Company's Web sites at www.columbia.com, www.convertboardwear.com or visit www.sorel.com. |
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