Hilco Capital, a London, England-based firm that specializes in investing in distressed assets and restructuring retailers, announced that it has acquired Canadian travel hat designer and manufacturer, Tilley Endurables, for an undisclosed sum.
The company, which was founded by entrepreneur Alex Tilley in 1980, currently employs more than 200 people across its manufacturing, wholesale and retail operations in Canada and wholesale operations in the UK and USA. Tilley Hats are made by hand in Canada in a process involving 41 steps, 23 pairs of hands and 15 pieces of fabric, says the company. Tilley’s products are stocked in more than 2,500 stores worldwide with UK stockists including Cotswold Outdoor and GO Outdoors.
“Alex Tilley has built a great business and a very strong brand around a phenomenal product over the last 30 years,” said Paul McGowan, CEO of Hilco Capital. “We’re delighted to pick up the mantle and draw on Hilco Capital’s expertise and resources to grow the business further and take the Tilley Hat to new markets around the world.”
