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Canada Goose Holdings Inc (NYSE:GOOS) has acquired the operating assets of Paola Confectii Manufacturing. The financial terms were not dislcosed.
The acquisition marks the company's first European facility, expanding existing categories.
Based in Romania, Paola Confectii has been a partner for Canada Goose since its launch in 2017, producing a range of best-selling styles, including the HyBridge Knit Jacket. Knitwear is one of Canada Goose's main segments.
The acquisition is expected to enhance product margins and supply control while deepening in-house product expertise.
"Our vertically integrated supply chain has always been one of our core competencies. This strategic investment advances our renowned manufacturing infrastructure and validates the performance luxury brand we are today," said Chairman and CEO Dani Reiss.
Paola Confectii will continue to be led by Giannino Lessi, General Manager, and Paola Zaffalon, Technical Director, as a standalone entity, maintaining regular operations.
Canada Goose held C$37.5 million in cash and equivalents as of October 1, 2023.
Price Action: GOOS shares traded higher by 2.17% at $10.88 on the last check Tuesday.
Posted In: GOOS
