Canada Goose buys European knitwear supplier Paola Confectii
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Hey there, time traveller!
This article was published 28/11/2023 (1041 days ago), so information in it may no longer be current.
TORONTO – Canada Goose Holdings Inc. says it has acquired a long-standing knitwear supplier and its European manufacturing facility.
Financial terms of the deal for the operating assets of Paola Confectii Manufacturing were not immediately available.
Canada Goose, best known for its luxury down-filled parkas, says Paola Confectii is based in Romania and has been a knitwear manufacturing 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 chairman and chief executive Dani Reiss says the deal demonstrates the confidence the company has in its emerging categories and its plans to develop them into even more meaningful contributors to its business.
It says Paola Confectii will continue to be led by general manager Giannino Lessi and technical director Paola Zaffalon as a stand-alone entity.
This report by The Canadian Press was first published Nov. 28, 2023.
Companies in this story: (TSX:GOOS)