Canada Goose Holdings Inc. (NYSE:GOOS, TSX:GOOS) today announced it has entered into an agreement to sell Baffin Limited, the Canadian performance footwear brand, to L.P. Royer Inc., a leading Canadian manufacturer of work and military footwear.

Canada Goose acquired Baffin in 2018 as its first step into the footwear category, gaining valuable expertise and infrastructure as the company began building its own footwear capabilities as part of its lifestyle product expansion strategy.

The transaction is expected to close in August, subject to customary closing conditions.