Interesting news today about one of my favorite companies:
On Tuesday, Prana Living, a yoga gear maker, was sold to Columbia Sportswear for $190 million.
Prana will join Columbia’s stable of sports apparel brands, which include its eponymous mountain gear line, the upscale Mountain Hardwear, and Sorel, the boot maker. Columbia, based in Portland, Ore., has a market value of $2.86 billion, but its shares were up 6.5 percent in after-hours trading on news of the deal for Prana, and good first-quarter earnings.
I’m not actually sponsored by any companies1, but I often like to joke that I am sponsored by Prana provided I ignore my credit card statements. I love their clothes and basically try to only engage in activities, be it work or play, where I can wear their stuff.
Knee jerk reactions to this kind of deal in the outdoor space are not usually met with a lot of optimism2, but I’m hoping for the best.