Columbia Sportwear Announces Buyout of China JV

   By Stephen Nakrosis

Columbia Sportswear Company (COLM) on Wednesday said it bought the 40% stake it didn't hold in Columbia Sportswear Commercial (Shanghai) Company, a joint venture in China with Swire Resources Limited, a subsidiary of Swire Pacific Limited.

The JV began operations in 2014, with Columbia holding a 60% stake and Swire holding 40%.

Columbia said their future plans include continuing investments to build the brand in China, and expanding direct and dealer-operated retail locations in the county.

Tim Boyle, Columbia's president and chief executive, said "We are very pleased with the positioning of the Columbia brand, and are committed to investing in the continued long-term success of Columbia in the crucial Chinese market."

Swire Resources will continue to serve as the exclusive independent distributor of Columbia Sportswear in Hong Kong and Macau, the company said.

--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

January 02, 2019 14:26 ET (19:26 GMT)

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