Athletic wear brand Lolë has announced the acquisition of Louis Garneau Sports, a known company in the field of cycling and sports equipment with three brands: Garneau, Sugoi and Sombrio.
The company said in a release that the strategic acquisition marks an important step in Lolë's expansion and strengthens its position in the global sportswear market.
"The acquisition will allow us to diversify our product offering and strengthen our commitment to innovation, quality, and performance, providing our customers with an even broader range of sports clothing and equipment," said Todd Steele, CEO of Lolë.
Louis Garneau Sports was founded in 1983 by Louis Garneau and his wife Monique Arsenault, starting out in his parents' garage. The Quebec company is widely recognized for its expertise in the design of cycling clothing and sports equipment.
"We are proud to join a dynamic and well-respected brand like Lolë. Together, we will continue to innovate and offer high-quality products to athletes and sports enthusiasts around the world," added Jean-Marc Jahoo, CEO of Louis Garneau Sports.
The company added that the acquisition will be effective immediately, and both companies will work closely to ensure a smooth transition. Financial details of the deal were not disclosed.
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