Columbia Sportswear Completes Acquisition of Sorel Brand.Business Editors PORTLAND, Ore.--(BUSINESS WIRE)--Sept. 22, 2000 International outdoor apparel and footwear manufacturer 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 received approval from the bankruptcy judge of the Ontario Superior Court of Justice The Superior Court of Justice for Ontario, Canada is the successor to the former Ontario Court of Justice (General Division), and was created on April 19 1999. Its predecessor, the Ontario Court (General Division) was the result of the 1990 merger and discontinuance of the previous to acquire 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. (R) brand. Columbia acquired the Sorel trademark rights, associated brand names and other related intellectual property rights for approximately $8 million in cash. The transaction closed Sept. 22, 2000. "The Sorel brand is highly regarded by retailers and consumers throughout the world," said Tim Boyle, Columbia's president and chief executive officer. "We are pleased with the rapid closure of this transaction, and will now devote our efforts to integrating the production of Sorel branded merchandise into our business." William H. Kaufman Inc., owner of the Sorel brand, recently entered into bankruptcy proceedings bankruptcy proceedings n. the bankruptcy procedure is: a) filing a petition (voluntary or involuntary) to declare a debtor person or business bankrupt, or, under Chapter 11 or 13, to allow reorganization or refinancing under a plan to meet the debts of the party . The company's assets, including inventory, equipment and real property were offered for sale individually or as a group. Columbia chose only to acquire the Sorel brand. Founded in 1938 in Portland, Ore., Columbia Sportswear Company is a global leader in the design, manufacture, marketing and distribution of active outdoor apparel and footwear. As one of the largest outerwear manufacturers 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, please visit the Company's Web site at www.columbia.com. |
|
|||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion