[9 April/The Country]

Icebreaker had been sold for $288 million, according to the Overseas Investment Office. The company was bought by VF Corporation in November last year. In their decision, the office said the new owners had the relevant experience and acumen and were of good character. Chief Executive of VF Corporation, Steve Rendle, said adding Icebreaker to its portfolio was a special opportunity. He added its natural fibre focus was an ideal complement to their SmartWool brand which also uses merino. Icebreaker Founder, Jeremy Moon, said it was a once in a lifetime opportunity and would introduce a whole new universe of consumers to the benefits of sustainably farmed, ethically sourced New Zealand merino wool. Icebreaker Chairman, Rob Fyfe, noted that Icebreaker was a small brand in the global outdoor clothing industry and that the opportunity to join VF presented them with the best opportunity to realise their ambition of becoming a $1 billion brand.