BasicNet Adds Woolrich Europe to Brand Portfolio
Key Takeaways:
- BasicNet acquires Woolrich Europe for €90 million through a wholly owned subsidiary.
- The deal includes European brand rights and 100% of Woolrich Europe’s operations.
- Woolrich’s FY25 revenues are projected around €90 million.
- The acquisition expands BasicNet’s legacy portfolio and reinforces its platform-driven business model.
- Further international brand development and integration expected under BasicNet stewardship.
BasicNet has announced the acquisition of Woolrich Europe in a deal valued at €90 million, signaling its continued expansion across heritage-driven lifestyle brands. The transaction includes full ownership of Woolrich Europe S.p.A.—which manages the brand’s distribution and retail across the region—as well as European rights to the Woolrich name.
With the acquisition set to close by December, BasicNet will integrate Woolrich into its portfolio of legacy labels, which already includes Kappa, K-Way, Superga, Sebago, Briko, and Robe di Kappa. The company, based in Turin and publicly listed on the Milan Stock Exchange, will take on Woolrich’s operations through a wholly owned subsidiary. The deal includes €40 million to be paid in part via BasicNet shares, with an earn-out provision tied to future performance between 2026 and 2028.
Founded in 1830 in Pennsylvania, Woolrich holds the distinction of being one of the oldest American outerwear labels, known for iconic garments such as the Buffalo check shirt and Arctic Parka. Under L-Gam’s ownership since 2018, the brand has sought to blend its rugged origins with luxury positioning, including the 2023 launch of the Woolrich Black Label under Todd Snyder’s creative direction.
BasicNet’s leadership emphasized that the acquisition fits seamlessly into its business model, which centers on brand stewardship, product design, and global licensing. The group does not directly manufacture or distribute its collections; instead, it supports partners with R&D, marketing, and digital infrastructure. Its platform-based approach aims to scale brands without diluting their identity—a key factor, the company suggests, in Woolrich’s selection.
The move also builds on recent momentum for BasicNet. In 2024, the company posted €409.2 million in revenue, a 3.1% increase over the previous year, alongside 5.1% growth in EBITDA. Last year’s partial sale of K-Way to Permira further strengthened the group’s balance sheet, enabling it to pursue additional acquisitions.
Currently, Woolrich operates 25 stores across Europe. Its international structure remains fragmented following a 2023 deal that saw Baoxiniao Holding Co. acquire the brand’s intellectual property outside Europe. Still, BasicNet sees potential to scale the label’s footprint through strategic repositioning, citing Woolrich’s strong product codes and near-200-year heritage as underleveraged assets.
The acquisition reflects BasicNet’s broader strategy to build a complementary stable of brands with distinct histories and clear visual identities. While immediate plans for the Black Label or further global consolidation remain undisclosed, the company has signaled openness to future brand acquisitions aligned with its long-term vision.