China's ATG Brands has acquired rucksack manufacturer Lowe Alpine from British outdoor clothing specialist Equip Outdoor Technologies. The Hangzhou-headquartered firm purchased Lowe Alpine's intellectual property, including its trademark, logo and associated brand assets, for an undisclosed sum. The transaction will not include stock, dedicated staff or premises, the two companies confirmed.
Brand history and ownership
Lowe Alpine was originally established by brothers Mike, Greg and Jeff Lowe in Utah in 1967. Derbyshire-based Equip, which also owns hiking clothing and equipment brand Rab, purchased the business in 2011 with a £20 million funding package backed by Santander and Matrix Private Equity Partners.
The new owners stated they would bring "renewed investment" to Lowe Alpine alongside "dedicated" ownership. John B Gearing, who advised ATG on the acquisition as principal of Global Sports Advisory (GSA), is set to lead Lowe Alpine's relaunch across the UK and Europe in the wake of the deal.
Relaunch plans and leadership
Mr Gearing, operating partner of Lowe Alpine Europe, said: "Lowe Alpine is a brand I have a genuine personal connection to and passion for. With more people discovering the benefit of spending time outdoors, we want Lowe Alpine to be integral to that movement. Our ambition is simple: we want to create dependable, well-designed products for people who love the outdoors. We want to honour the brand's history while building a community that its customers and partners can be proud of."
Richard Leedham, CEO of Equip Outdoor Technologies, said: "As a brand with a rich heritage in mountain culture, Lowe Alpine has been an important part of Equip's growth story. We are proud of the role Lowe Alpine has played in helping shape the business we are today. As our strategic focus moves firmly towards the continued global growth of Rab, it is time to find Lowe Alpine a new owner who can give the brand the focus and investment it deserves.
"This sale gives Lowe Alpine a fresh opportunity to move forward under ATG's ownership. We are grateful to everyone who has supported the brand over the years and wish ATG every success as they take Lowe Alpine into its next chapter."
