MONTRÉAL — Montréal-based athletic wear company Lolë Brands has acquired Louis Garneau Sports including its three brands Garneau, Sugoi and Sombrio.
"This is an exciting opportunity to partner with a beloved brand that brings its unique perspective to our team. 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.
Olympic cyclist Louis Garneau and his wife Monique Arsenault founded Louis Garneau Sports in 1983 in his parents' garage. The company filed for bankruptcy in 2020 and restructured with the help of several Québec investment groups. Louis Garneau announced on social media this summer that he had left the company.
"We are proud to join a dynamic and well-respected brand like Lolë," said Jean-Marc Jahoo, the CEO of Louis Garneau Sports. "Together, we will continue to innovate and offer high-quality products to athletes and sports enthusiasts around the world."
Financial details of the deal were not disclosed and a press release said there would be no comments from the parties involved.
