Timberland buys British apparel maker
The Timberland Company has acquired British sports and casual wear manufacturer Howies Limited.
Financial details of the agreement were not disclosed.
“We are excited and inspired by the brand potential we see in Howies and are pleased to welcome them into the Timberland family,” said Jeffrey Swartz, president and CEO of the Stratham-based firm.
Howies has a product line for men and women that includes everything from outerwear to underwear, sweaters, skirts and jeans – most made from recycled and organic cotton – and a stated purpose that reads, “to make people think about the world we live in.”
Founders of the 11-year-old company also donate 1 percent of turnover or 10 percent of pre-tax profits – whichever is greater – to grassroots environmental and social projects
“We look to invest in like-minded brands that are focused on innovation, authenticity and integrity, and Howies encompasses all of these core values,” Swartz said of Howies Limited.
Timberland’s announcement comes three weeks after talks of the possible sale of the family-run company surfaced, resulting in a rise in Timberland stock. Company officials, however would not comment on the rumors. – TRACIE STONE