Lolë Brands continues its portfolio-building efforts, entering the cycling apparel business by acquiring Louis Garneau Sports and its three brands—Garneau, Sugoi and Sombrio, effective immediately. The move is intended to expand and strengthen Lolë Brands position in the global sportswear market.
“This is an exciting opportunity to partner with a beloved brand that brings its unique perspective to our team. The acquisition will allow us to diversify our product offering and strengthen our commitment to innovation, quality and performance, providing our customers with an even broader range of sports clothing and equipment,” said Todd Steele, CEO of Lolë Brands.
Louis Garneau Sports was founded in 1983 by Louis Garneau and his wife Monique Arsenault in his parent’s garage. Lolë said in a media release that the Quebec-based company is “widely recognized for its expertise in designing cycling clothing and sports equipment.” The company said Lolë will benefit from Louis Garneau Sports’ develop and production knowledge in developing new collections.
“We are proud to join a dynamic and well-respected brand like Lolë,” said Jean-Marc Jahoo, CEO of Louis Garneau Sports. “Together, we will continue to innovate and offer high-quality products to athletes and sports enthusiasts around the world.”
The terms of the acquisition were not released by the companies.
Image courtesy Sugoi
