Lolë announced Friday that it has acquired Louis Garneau Sports to strengthen its presence in the sportswear market.
Financial details of the deal were not disclosed.
“This strategic acquisition marks an important step in Lolë’s expansion and strengthens its position in the global sportswear market,” the Montreal company said in a press release.
“This acquisition will allow us to diversify our product offering and strengthen our commitment to innovation, quality and performance, offering our customers an even broader range of sports apparel and equipment,” said Lolë President and CEO Todd Steele.
Founded in 1983 by Louis Garneau and his wife, Monique Arsenault, in his parents’ garage in Saint-Augustin-de-Desmaures, Louis Garneau Sports is a Quebec company recognized for its expertise in the design of cycling clothing and sports equipment with its Garneau, Sugoi and Sombrio brands.
Through this transaction, Lolë will benefit from the experience and know-how of Louis Garneau Sports to develop new collections and meet the growing needs of sports and outdoor enthusiasts.
In the same press release, Louis Garneau Sports CEO Jean-Marc Jahoo said he was “proud to join a dynamic and committed brand like Lolë.”
“Together, we will continue to innovate and deliver high-quality products to athletes and sports enthusiasts around the world,” he added.
This acquisition is effective immediately.
Both companies maintain that they will work closely together to ensure a smooth transition.
Lolë is a renowned brand for its sports and outdoor clothing, sold in more than 1,500 stores. Its products are designed in Montreal.