Pajar Canada, the fifth-generation, family-owned footwear and outerwear company, announced the acquisition of acquired Canadian competitor Cougar Shoes, which has been making boots and shoes for over 75 years, for an undisclosed sum.
Pajar Canada, based in Montreal, is best known for its sheepskin boots. Quebec-based Cougar Shoes makes suede and leather waterproof boots and is known for its brown leather “Pillow Boot.”
Cougar Shoes Co-owner and President Steve Sedlbauer told the Globe & Mail that the company has experienced financial struggles in recent years due to disruption caused by the pandemic and milder winters in key regions.
“We just don’t get the winters of the severity, and early enough, to make the category robust,” said Sedlbauer. “The retailers are divesting from it because it’s difficult to make money in that category.”
Sedlbauer further noted that owners were nearing retirement age.
Pajar Canada’s President Michel Golbert told Globe & Mail that the company is growing, benefiting from expanding to over 25 countries and reaching over $100 million in annual sales and foresees the potential in expanding Cougar in international markets and into outerwear.
“The Cougar brand is also a very beautiful heritage brand, and we always viewed them as a good competitor,” said Golbert. “We figured that if we weren’t purchasing it, it would be somebody else. We wanted to corner the market a little bit, at least in Canada and North America, and we thought it would be a great idea to expand.”
Image courtesy Cougar Shoes
