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Thursday, November 10, 2005

Timberland

Timberland agrees to pay $82m for SmartWool
(The Boston Globe)

Timberland Co., a maker of hiking boots and outdoor clothing, agreed to buy SmartWool Corp. for $82 million to add socks and apparel. RAF Industries Inc. and Stripes Group LLC are the sellers, Stratham, N.H., Timberland said, adding that SmartWool will operate as a subsidiary. The acquisition will add 2 to 3 cents a share to 2006 earnings and will have ''minimum" impact on fourth-quarter 2005 earnings, the company said. (Bloomberg)