China’s ATG buys hiking brand Lowe Alpine from UK’s Equip

China’s ATG Brands has snapped up rucksack maker Lowe Alpine from UK outdoor clothing specialist Equip.

The Hangzhou-based company has bought Lowe Alpine intellectual property, including trademark, logo and associated brand assets, for an undisclosed amount.

The deal will not cover stock, dedicated employees or premises, the companies said.

Lowe Alpine was originally founded by brothers Mike, Greg and Jeff Lowe in Utah in 1967.

Equip, which also owns hiking clothing and equipment brand Rab, bought the business in 2011 with a £20 million funding package backed by Santander and Matrix Private Equity Partners.

The new owners said they will bring “renewed investment” to Lowe Alpine as well as “dedicated” ownership.

John B Gearing, who advised ATG on the deal as principal of Global Sports Advisory (GSA), will lead Lowe Alpine’s relaunch across the UK and Europe following the deal.

Mr Gearing, operating partner of Lowe Alpine Europe, said: “Lowe Alpine is a brand I have a genuine personal connection to and passion for.

“With more people discovering the benefit of spending time outdoors, we want Lowe Alpine to be integral to that movement.

“Our ambition is simple: we want to create dependable, well-designed products for people who love the outdoors.

“We want to honour the brand’s history while building a community that its customers and partners can be proud of.”