Gill Marine acquires Gill North America
Published on February 5th, 2018
Gill, the leading global brand for technical sailing clothing, announced the British parent company has acquired Gill North America Ltd. The acquisition, for an undisclosed amount, is part of Gill’s ambitious growth strategy, developed since the company was purchased from Nick Gill by YFM Equity Partners in late 2013.
The move is also part of the wider plans designed to strengthen its brand position in the marine apparel market and continue the significant growth seen in 2017.
Gill North America Ltd is the leading marine brand in the United States, Canada, Mexico and the Caribbean, with annual revenues in excess of US$8 million. The deal will see the company’s combined annual turnover increase to more than GBP £20 million, with the US making up 33% of the Gill worldwide portfolio.
Gill North America Ltd previously operated independently under a distribution agreement but will now be an integrated part of the Gill global brand, delivering benefits through expansive markets, new product development, cost synergies, centralized digital platforms, shared operations and customer service.
“Gill grew 15% in 2017 and has ambitions for further growth and to strengthen our position as the leading marine apparel brand around the world,” reports Gill’s CEO Jamie Tunnicliffe. “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.
“With this brand consolidation, turnover growth will now exceed GBP£20 million in 2018 and we can ensure that we have a consistent brand message and product offering across the world. In conjunction with our partners, Gill now has a global presence with market leading positions in UK, Europe, the US and Australasia.”
David Pritchard, who will continue as Senior Vice President (SVP) of Gill North America, reporting directly to Jamie Tunnicliffe, has guided Gill in North America over the last 30 years, creating the number one brand of choice for sailors, cruisers, anglers and water sports enthusiasts.
“Bringing Gill North America into the global company network will bring enhanced benefits for our US consumers, with extended product lines and an integrated digital platform, and will also safeguard 15 employee positions in the US,” said Pritchard. “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.”
Gill manufactures a wide range of clothing and accessories which it exports to over 40 countries and has a prestigious heritage, dating back to 1975 when Nick Gill, who remains a non-executive director, began making technical sailing clothing from his father’s lace factory in Nottingham, UK.
Gill’s product categories include Race, Performance and Active ranges that are well suited for use in a harsh marine environment, inspiring consumers to spend time on, off or near the water.
Source: Tim Kelly