A leader in performance-based merino wool socks, Timberland, a well known brand for footwear, apparel and accessories, has completed its US $ 82 million acquisition of Smart Wool Corporation. In buying SmartWool Timberland is looking to extend its capabilities to new brand growth platforms that will drive growth and shareholder value. Smart Wool’s 2005 annual revenues are anticipated to be approximately $42M., excluding sales of Timberland footwear with SmartWool linings. Timberland expects this deals will add US$ 0.02 to US$ 0.03 to its earnings per share in
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| 2006, with benefits weighted toward the second half of the year. The transaction will have minimal impact on fourth quarter 2005 earnings. Mr. Jeffrey B. Swartz, Timberland's President and Chief Executive Officer stated that "Timberland and SmartWool share a common heritage grounded in functional and purposeful innovation, and the combination of both brands will enable us to serve our growing customer bases with expanded offerings of socks, footwear, apparel and accessories “We're delighted to welcome the SmartWool team to Timberland and look forward to working together to accelerate and broaden Smart Wool’s brand reach”. 
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