Timberland Buying Smartwool

Timberland signed a definitive agreement to acquire 100% of SmartWool Corp. from RAF Industries and the Stripes Group. SmartWool, a privately held company based in Steamboat Springs, CO.

The purchase price is estimated to be approximately $82 million and will be funded through Timberland's existing cash balances and short-term borrowings.

The SmartWool organization will continue to be headquartered in Steamboat Springs and will operate as a wholly owned subsidiary of Timberland under the leadership of Chip Coe, SmartWool's president.

Maybe that's why Chip called his company " Smartwool".

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