Sailing apparel company Gill announced that British parent company has acquired Gill North American Ltd. for an undisclosed amount.
Gill North America Ltd previously operated independently under a distribution agreement but will now be an integrated part of the Gill global brand.
“Gill grew 15 percent in 2017 and has ambitions for further growth and to strengthen our position as the leading marine apparel brand around the world,” said Gill CEO Jamie Tunnicliffe in a statement. “The acquisition of Gill North America was an important step in this strategy and we are delighted to have finalized a deal which benefits our customers, stakeholders and staff.”
The purchase is part of Gill’s growth strategy following its purchase from Nick Gill by YFM Equity Partners in 2013.
The move is also part of plans to strengthen its brand position in the marine apparel market and build on the “significant growth” seen in 2017, the company said.
Gill North America Ltd., which operates in the United States, Canada, Mexico and the Caribbean, saw annual revenue in excess of $8 million.
The deal will see the company's combined annual turnover increase to more than 20 million British pounds, more than $27.7 million, with the United States making up 33 percent of the Gill worldwide portfolio.
David Pritchard, who will continue as senior vice president of Gill North America, will report directly to Tunnicliffe.
“We are immensely proud of the success story of Gill in North America over the last 30 years as we have created the number one brand of choice for sailors, cruisers, anglers and water sports enthusiasts,” Pritchard said.
“Bringing Gill North America into the global company network will bring enhanced benefits for our U.S. consumers, with extended product lines and an integrated digital platform, and will also safeguard 15 employee positions in the U.S.,” Pritchard said. “We are excited about the future, working together with the Gill brand to continue to grow and better serve those who share our passion for life on and around water.”