It’s official: Purchase of SmartWool’s parent company is finalized
September 13, 2011
Steamboat Springs — VF Corp. announced Tuesday that it has completed the $2.3 billion purchase of Timberland, the parent company of Steamboat Springs-based SmartWool.
In a news release, the company confirmed that the merino wool outfitter would remain in Steamboat, where it is led by SmartWool President Mark Satkiewicz.
Tuesday's news is perhaps a bit anticlimactic in Routt County.
Satkiewicz announced July 14 that SmartWool had reached an agreement in principal to extend its lease at the city-owned Steamboat Springs Airport through 2022 and expand the terminal facility where its offices are located. The City Council approved a second reading of the lease and expansion agreement Aug. 1.
VF Corp., of Greensboro, N.C., first announced the deal to buy Timberland on June 13. VF Corp. is an apparel giant that also owns The North Face, Jansport, Vans, Reef and Eastpak.
Recommended Stories For You
Trending In: Explore Steamboat
- David Ihde: No one owes you a place to live in Steamboat
- Tiny house projects proposed in Hayden, Oak Creek
- Steamboat base area condo project re-enters city planning process with new design
- Mixed bag of weather during run-up to Steamboat Resort opening Nov. 22
- City of Steamboat invested thousands to promote downtown businesses impacted by construction. West Steamboat businesses wonder why they didn’t get the same support