Hilco Capital disclosed that it had acquired Canadian travel hat designer and manufacturer, Tilley Endurables, for an undisclosed sum.
Hilco, a London, England-based firm that specializes in investing in distressed assets and restructuring retailers, acquired the brand through its Canadian arm Re:Capital in April.
The company, which was founded by entrepreneur Alex Tilley in 1980, is famous around the world for the iconic Tilley Hat, an extremely high quality, hardwearing cotton hat. The Tilley Hat was borne out of Alex Tilley’s frustration at the poor design and quality of sailing hats on the market, leading him to embark on a quest to create the world’s best hat. From its initial success with the sailing fraternity, Tilley Hats quickly became the headgear of choice for hikers, hunters, fishermen and even the Canadian military.
Tilley Hats enjoy a fiercely loyal following among adventurers and travellers the world over thanks to their quality, practicality and durability, with customers frequently relating their Tilley tales to the company. Tilley Hats have emerged unscathed from the jaws of a lion and the digestive system of an elephant (three times over).
With the runaway success of the original Tilley Hat, the company expanded the range to include variations on the classic design for different environments, together with similarly well-designed and made travel clothing and accessories.
The company employs over 200 people across its manufacturing, wholesale and retail operations in Canada and wholesale operations in the UK and USA. Tilley Hats are made by hand in Canada in a process involving 41 steps, 23 pairs of hands and 15 pieces of fabric.
Tilley’s products are stocked in more than 2,500 stores worldwide with UK stockists including Cotswold Outdoor and GO Outdoors.
“Alex Tilley has built a great business and a very strong brand around a phenomenal product over the last 30 years,” said Paul McGowan, CEO of Hilco Capital. “We’re delighted to pick up the mantle and draw on Hilco Capital’s expertise and resources to grow the business further and take the Tilley Hat to new markets around the world.”
