L2 Brands, a branded apparel and headwear manufacturer, purchased Ouray Sportswear from S&S Activewear.
Since its founding as Ski Country Imports in 1965, Ouray developed into a supplier of apparel and headwear focused on the destination, collegiate, golf, and corporate channels. In 2021, it acquired the outdoor-inspired headwear and accessories company Locale. S&S Activewear acquired Ouray as part of its acquisition of distributor TSC Apparel in 2021.
L2 Brands, which owns apparel, headwear and home decor brands League and Legacy, said the acquisition would provide it with “significant opportunities” in the market for customized sportswear.
“We are thrilled to welcome the Ouray and Locale team to the L2 family,” said Paige Wingert, CEO of L2 Brands. “Both are a tremendous addition and highly complementary fit for L2’s portfolio with significant potential for continued growth. We look forward to working with their team as we focus on bringing Ouray’s and Locale’s products to new customers and markets.”
The company said it is “well-positioned to build on Ouray’s recent success as the business scales and expands into new product categories, geographies and end markets.”
“We are pleased to reach an agreement with L2 Brands, an ideal partner with the strategic capabilities and shared mission that will best position Ouray for long-term success,” said Frank Myers, CEO, S&S Activewear. “It has been a privilege to work alongside Ouray’s talented team, particularly as the business has grown in partnership with S&S. We look forward to seeing all that the Ouray team will accomplish as they join L2, and we are excited to continue serving our customers as their distribution partner across North America.”
BMO Capital Markets and Integris Partners served as financial advisors to L2 Brands. Miller & Martin PLLC acted as its legal advisor. Intrepid Investment Bankers served as financial advisors, and McDermott Will & Emery LLP acted as legal advisor to S&S.
