Shimano Inc. has sold off its apparel brand, Pearl Izumi, to United Sports Brands, the parent of Nathan, Cutters, and Shock Doctor, among other brands.
Pearl Izumi will join Nathan, which offers running accessories and apparel, in USB’s new outdoor division.
Pearl Izumi managers told employees of the sale Monday morning. A purchase price was not disclosed. Shimano announced the sale as the Tokyo stock exchange opened Friday local time.
Shimano bought Pearl Izumi’s parent company, DashAmerica Inc., in 2008 from Nautilus for about $70 million.
Since then Pearl Izumi has been held as a subsidiary of Shimano’s U.S. business, Shimano North America Holding. Pearl Izumi’s headquarters are in a 55,000-square-foot facility in Louisville, Colorado, shared by a handful of employees from Shimano’s component business. The building, which has won awards for its sustainable construction, was included in the sale.
Pearl Izumi’s European business is a separate subsidiary of Shimano and was also purchased by USB. The original Japan-based Pearl Izumi operation, which Shimano does not own, was not sold to USB. It operates only in Japan.
To read the complete story visit BicycleRetailer.com.