Apax Partners has completed its $570 million acquisition of Cole Haan from Nike Inc.
The brand will now be led by former Converse CEO Jack Boys, who teamed up with Apax on the deal.
“I am thrilled to work with the Cole Haan team to build on the brand’s incredible legacy,” said Boys in a statement. “From the time Trafton Cole and Eddie Haan launched the business 85 years ago, Cole Haan has established a history of outstanding craftsmanship, innovative design and exceptional quality. Now, as an independent company, we have an exciting opportunity to expand upon the Cole Haan tradition, deliver new, consumer-driven products and grow as a lifestyle brand with a global footprint.”
John Megrue, CEO of Apax Partners U.S. and partner in the retail and consumer team, said in a statement he was upbeat about the brand’s future. “Cole Haan is an iconic brand, and we look forward to working together in support of its continued expansion,” Megrue said.