(Toronto) Canada Goose Holdings announced the acquisition of a long-time knitwear supplier and its European manufacturing facility.
The financial terms of the transaction concerning the operating assets of Paola Confectii Manufacturing were not immediately communicated.
Canada Goose, best known for its luxury down-filled parkas, says the company Paola Confectii is based in Romania and has been a partner since Canada Goose launched in 2017.
The company says the deal builds on its existing network of seven facilities across Canada and marks its first in Europe.
Canada Goose President and CEO Dani Reiss says the deal demonstrates the company’s confidence in its emerging categories and its plans to grow them to make an even more meaningful contribution to its business.
Paola Confectii will continue to be led by Managing Director Giannino Lessi and Technical Director Paola Zaffalon as a standalone entity.
Company in this report: (TSX: GOOS)