Canada Goose has reached an agreement to sell its Canadian performance footwear brand Baffin to LP Royer. The buyer specializes in work, industrial, and military footwear. Financial details of the transaction were not disclosed. The deal is expected to close in August.
Canada Goose acquired Baffin in 2018, thus entering the footwear market. The brand's expertise and infrastructure served as a foundation for the company to build its own footwear capabilities. Since 2021, Canada Goose has offered its own shoe collection, which now includes not only extreme weather boots but also lightweight hiking shoes, everyday performance models, and sneakers.
“This transaction is about focus,” explains Dani Reiss, Chairman and CEO of Canada Goose. The sale is intended to simplify the business model and allow resources to be concentrated more strongly on the most important growth areas of the Canada Goose brand.
Baffin was founded in 1979 and specializes in technical footwear for extreme weather and operating conditions. Royer intends to further develop the brand while preserving its Canadian heritage and focus on functionality and durability.
Royer was founded in 1934 and is headquartered in Sherbrooke, Quebec, Canada. The company produces technical footwear for industries including mining, construction, metalworking, and oil and gas.
