Implus Acquires Shoe Care Assets from Penguin Brands, Inc
Durham, NC and Sharon Hill, PA – July 1, 2013 – Implus, manufacturer of Sof Sole, today announced the acquisition of shoe care, insole, and shoe lace assets from Penguin Brands, Inc. Running essentials company NATHAN is now a standalone company under its current ownership and leadership team. This acquisition will strengthen Implus and the shoe care industry as a whole by broadening distribution capabilities, accelerating product innovation and better serving customers.
“The purchase of select Penguin Brands assets underscores our commitment to the growth of the shoe care category,” said Todd Vore, President of Implus. “With the combination of quality and innovation that both companies are known for, the acquisition complements the strength of Implus’ footwear accessories portfolio.”
Jon Reichlin, founder of Penguin Brands, Inc. and current chairman of the board, will remain involved as an investor and consultant to Implus. “The Penguin brand has been built over the past 38 years with great care, passion and commitment. We are thrilled that Penguin will live and grow with a team that will not just uphold, but enhance, the standards we have set over the years,” said Reichlin. “Implus’ unparalleled distribution platform and customer service, combined with the innovation and breadth of Penguin shoe care products, will take the shoe care industry to unprecedented heights.”
NATHAN, another Penguin brand and the world leader in purposefully-designed hydration, visibility, and essential performance gear to help athletes run stronger and longer, is not part of this sale and is now a stand-alone company. Current Penguin Brands CEO Bridgit Lombard will remain with NATHAN as CEO of the independent brand.
About Implus Corporation
Headquartered in North Carolina’s Research Triangle Park, Implus has evolved to become an innovative manufacturer in footwear, outdoor and fitness accessories. Implus’ brand family includes Sof Sole®, Yaktrax®, apara®, Airplus®, Sneaker Balls®, Sof Comfort®, Little Hotties®, Perfect Fitness® and ICETrekkers®. From insoles, socks and shoe care to seasonal accessories and fitness solutions, Implus proudly distributes in over 75,000 retail outlets across North America and in 65 countries worldwide. For more information, please call (800) 446-7587 or visit www.implus.com.
Driven by a keen understanding of athlete needs, NATHAN’s team of innovators sweat the details, because it’s the details that help athletes push their potential. As a market leader in groundbreaking Running Essentials™ products, NATHAN purposefully designs performance-driven gear that helps dedicated athletes run stronger and longer in 45 countries and counting.
NATHAN’s essential hydration, visibility, and performance offerings targeted to road warriors, ultrarunners, triathletes, couch to 5Ker’s, and every dedicated athlete in between, include industry-leading and best-selling hydration vests, belts, handhelds, bottles, running paks, active visibility and reflective vests, and other outdoor gear essentials, all designed for a life in motion. Run stronger and longer at NathanSports.com, Tweet us @NathanPerfGear, and like us on Facebook @Nathan Performance Gear.