Columbia Sportswear to Acquire Prana Living for $190 Million
Posted on April 29, 2014Columbia Sportswear is acquiring PrAna living for $190 million. Prana will join Columbia's outdoor portfolio, which includes Columbia, Mountain Hardwear, Sorel and Montrail. Prana is known for its yoga and rock-climbing clothing. They also make yoga mats and climbing accessories.
Tim Boyle, Columbia's president and chief executive officer, says in the announcement, "We are very excited to welcome prAna to Columbia's brand portfolio. PrAna is a rapidly growing lifestyle apparel brand positioned at the intersection of today's healthy, active lifestyles and socially conscious consumerism. A growing number of women and men are embracing prAna's versatile products that are designed and manufactured with sustainability as a core value."
Prana will remain headquartered in Carlsbad, California and operate as a wholly owned subsidiary of Columbia. Prana ceo Scott Kerslake will contain to serve as ceo of Prana. He will report to Boyle. The transaction is expected to close during second quarter of 2014.