Columbia Sportswear to Acquire OutDry Technologies
Columbia Sportswear Company announces that it has signed an agreement to acquire OutDry Technologies S.r.l., which owns the intellectual property and other assets comprising the OutDry brand and related business, via a cash purchase from Nextec S.r.l., based near Milan, Italy. The transaction is expected to close during the third quarter of 2010, subject to customary closing conditions, and is not expected to have a material effect on the company's 2010 operating results.
"Columbia's acquisition of OutDry is the latest example of our strategy to build a portfolio of innovative technologies that deliver performance and protection benefits of greatest importance to outdoor consumers," says Tim Boyle, president and CEO of Columbia. "We view OutDry's proprietary construction methods, under development since 1998, as the 'gold standard' for producing waterproof, breathable footwear and gloves that outperform products still relying on the 25-year-old method of internal booties and bladders. We intend to deploy OutDry across our portfolio of outdoor brands, including Columbia, Mountain Hardwear, Sorel and Montrail, as well as to market OutDry to select leading brands within and beyond the outdoor industry."
OutDry's patented and patent-pending construction methods bond a waterproof, breathable membrane directly to the inside of the outermost layer of a shoe or glove, thereby preventing water or dirt from penetrating to internal airspaces and fabric layers as commonly occurs with products that rely on bulky booties or bladders. OutDry improves waterproof, breathable performance, reduces water-weight gain, maintains insulation capacity, and improves fit and dexterity, resulting in greater comfort. Avoiding water penetration beyond the outermost layer may also help reduce the incidence of mold, mildew and bacteria that often develop when internal fabric layers become wet.
In Fall 2009, Columbia's Mountain Hardwear brand introduced a selection of high-performance gloves manufactured using OutDry's patented construction processes.
"Columbia's acquisition of OutDry is the latest example of our strategy to build a portfolio of innovative technologies that deliver performance and protection benefits of greatest importance to outdoor consumers," says Tim Boyle, president and CEO of Columbia. "We view OutDry's proprietary construction methods, under development since 1998, as the 'gold standard' for producing waterproof, breathable footwear and gloves that outperform products still relying on the 25-year-old method of internal booties and bladders. We intend to deploy OutDry across our portfolio of outdoor brands, including Columbia, Mountain Hardwear, Sorel and Montrail, as well as to market OutDry to select leading brands within and beyond the outdoor industry."
OutDry's patented and patent-pending construction methods bond a waterproof, breathable membrane directly to the inside of the outermost layer of a shoe or glove, thereby preventing water or dirt from penetrating to internal airspaces and fabric layers as commonly occurs with products that rely on bulky booties or bladders. OutDry improves waterproof, breathable performance, reduces water-weight gain, maintains insulation capacity, and improves fit and dexterity, resulting in greater comfort. Avoiding water penetration beyond the outermost layer may also help reduce the incidence of mold, mildew and bacteria that often develop when internal fabric layers become wet.
In Fall 2009, Columbia's Mountain Hardwear brand introduced a selection of high-performance gloves manufactured using OutDry's patented construction processes.