Canada Goose Buys Baffin Footwear
GOOS will pay C$32.5 million in cash and stock for the Stoney Creek, Ontario-based maker of performance outdoor and industrial footwear. The acquisition will give Canada Goose access to infrastructure and know-how to enter the footwear category. Baffin will continue to operate out of its current headquarters as a wholly owned subsidiary. C$31.0 million in cash will come from available cash on hand, and GOOS will issue another $1.5 million in restricted subordinate voting shares to the seller.
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