Line 7 bounces again

Swanndri, known in New Zealand for its outdoor farm gear and bush shirts, is to buy Line 7 for an undisclosed price.

Started in 1963, the then kiwi-based Line 7 quickly became the benchmark for high quality and high performance sailing gear, however, its recent history is much less distinguished.

Line 7 is now owned by the Australian based clothing and textile company, Charles Parsons, which brought it out of receivership in 2009 but the brand failed to gain significant footing again in the sailing segment.

Swanndri’s chief executive Mark Nevin said the two businesses are a good fit, and Line 7 gives his company access to another market.

“What Line 7 brings is a couple of different product categories which fit into our businesses — the lifestyle segment and the farm, wet weather gear, which has been a range we’ve been looking at developing.”

Nevin said the aim now is to get the best out of both businesses to help increase overall group earnings.

Source: www.radionz.co.nz