The Timberland Company acquired substantially all of the assets of IPATH, LLC through a new wholly-owned subsidiary, IPATH Footwear Inc. IPATH designs, develops and markets skateboard casual footwear, apparel and accessories and is known as the “greenest” of the skate brands in the action sports industry. The IPATH business will continue to be led by its founders Brian Krauss and Matt Field with the current management team based in Torrance, Calif.
Jeffrey B. Swartz, Timberland's president and CEO, said, “We are very excited to welcome IPATH into our business enterprise. Our commitment to Authentic Youth consumers globally is real. IPATH brings a unique and authentic brand, business and consumer relationship, rooted in a distinctive persona that extends far beyond skateboarding. We believe that a combination of highest quality product, a commitment to environmental sustainability, and a unique consumer voice make IPATH a powerful source of new growth and excitement within our brand and business portfolio.”
Financial terms of the deal were not disclosed. This is Timberlands second consecutive acquisition of a small, environmentally friendly action sports brand. When added to TBLs existing Mion brand and the strong environmental ethic behind the corporation, it seems as though the company is transforming itself into an eco-conscious holding company.
