Squire Sanders represented lifestyle apparel brand prAna Living LLC in its sale to Columbia Sports Company, an innovator in the global outdoor apparel, footwear, accessories, and equipment industries. prAna will join Columbia’s stable of sports apparel brands, including Columbia, Mountain Hardwear, Sorel, and Montrail. The deal is valued at approximately US$195 million. prAna has been controlled by its majority owner, Steelpoint Capital Partners, also a Squire Sanders client.
The Squire Sanders deal team representing prAna was led by Phoenix-based corporate partner Frank Placenti, who has represented Steelpoint and its principals for over 20 years. The team also included Carl Draucker, Jake Smith, David Saltzman, Justin Feinberg, Derek Lowrey, and Jessica Roberts.
The transaction is expected to close in June following Hart Scott Rodino review and clearance, which is being managed by partner Barry Pupkin, with assistance from Peter Alfano.
Based in Carlsbad, Calif.,prAna was established in 1992 and sells yoga, rock climbing and fitness clothing in five flagship stores, online at prAna.com, and in 1,400 specialty retailers across the US, Canada, Europe and Asia including at REI, its largest customer.
