Tilley Endurables sold to UK company known for investing in distressed companies
Posted July 15, 2015 11:25 am.
This article is more than 5 years old.
TORONTO (NEWS 1130) – Tilley Endurables, the Canadian manufacturer and retailer behind the iconic Tilley hat, has been sold to a subsidiary of UK-based private equity firm known for its investments in distressed companies.
Financial and other details of the sale to Re:Capital, the Canadian arm of Hilco Capital, were not disclosed.
Tilley Endurables, also known for its wide variety of travel wear and accessories, was founded by entrepreneur Alex Tilley in 1980.
Tilley, whose products are stocked in more than 2,500 stores worldwide, long insisted that virtually all Tilley-branded products be produced in Canada. An exception was socks, which are manufactured in the United States.
It was not immediately clear if the new owners would be moving any production out of Canada.
Tilley, 77, announced earlier this year that he was putting the company up for sale, saying he hoped the buyers would maintain manufacturing operations in Canada, but conceded he would have no control over that.
