Well-known jacket-maker Canada Goose has acquired local boot manufacturer Baffin Inc, as a way to expand into the footwear market.
Long time industry friends Dani Reiss, President and CEO of Canada Goose and Baffin Inc founder, Paul Hubner have joined forces in an effort to raise the bar on footwear.
Toronto-based Canada Goose announced it bought Baffin for $32.5 million.
“Baffin is definitely a Canadian success story and I’ve often spoke about how Canada needs to invest more in Canada and this is an example of us putting our money where our mouth is.” Dani Reiss, Canada Goose.
Paul Hubner founded Baffin in 1979. He’s grown the Hamilton-based brand over the years, even testing his products in extreme environments like the Arctic. He is the master behind the designs and technology used to create these boots. He’s evolved the brand over the years, manufacturing high-performance footwear for extreme conditions to more casual everyday styles.
Despite the acquisition, Baffin says it will continue to operate its business in Stoney Creek and will also continue to sell its products to retailers and distributors right across the country.
Baffin Inc has 80 employees at their headquarters in Stoney Creek. The average cost for a pair of boots is about $200. Canada Goose was founded in 1957 and sells their products in more than 38 countries. Their coats range from $500 to over $1000.
