Kellwood to acquire outdoors clothing retailer Royal Robbins
19 Jun '07
2 min read
Kellwood Company announced an agreement to acquire Royal Robbins Inc, a division of Phoenix Footwear Group Inc according to Robert C. Skinner, Jr., Kellwood chairman, president, and chief executive officer.
Headquartered in Modesto, CA, Royal Robbins designs and markets premium quality active sportswear and travel apparel for men and women. The company was founded in 1968 by Royal Robbins, who today is considered one of the most influential mountain climbers of the 20th Century.
Robbins and his wife and partner, Liz, established the business to outfit climbing enthusiasts and other outdoor-oriented individuals.
Skinner commented, "The acquisition of Royal Robbins allows us to expand our outdoor recreation and leisure products platform. We have a very strong portfolio of brands already in the camping, mountaineering and outdoor products category such as Kelty and Sierra Designs. Royal Robbins introduces us to the outdoor apparel sector of that industry and will become part of our American Recreation Products Inc division."
"We have been searching for the right outdoor apparel company to add to our division's product mix and Royal Robbins is the perfect fit. Their highly visible, strong consumer base enhances our positioning and allows us to accelerate our growth and profitability," said George J. Grabner, Jr., president of American Recreation Products.
Robert (Bob) Orlando, president of Royal Robbins, and his team will continuewith the company. He will report to Grabner.
In October 2003, the company was acquired by Phoenix Footwear. Sales for Royal Robbins in calendar year 2006 were approximately $30 million. The transaction is expected to close by early July. Kellwood is purchasing Royal Robbins for approximately $40 million.
The Company does not anticipate the acquisition will significantly impact 2007 results. Kellwood was represented by Financo, Inc. and Phoenix Footwear by Kurt Salmon Associates Capital Advisors Inc.
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