Implus, manufacturer of Sof Sole, announced the acquisition of shoe care, insole and shoe lace assets from Penguin Brands, Inc. This acquisition will broaden distribution capabilities, accelerate product innovation and better serve customers, says the company.
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.
“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.”
