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Timberland to buy SmartWool

Monday, November 7, 2005; 11:05 PM

NEW YORK (Reuters) - Footwear and apparel maker Timberland Co. <TBL.N> said on Monday it was acquiring privately held SmartWool Corp. for about $82 million.

According to a company release, Timberland signed a definitive agreement to buy all of SmartWool's outstanding stock from RAF Industries Inc. and the Stripes Group LLC, and said it sees the deal being completed by mid-December.

Timberland expects the acquisition to add 2 to 3 cents to its 2006 earnings per share, but to have no significant impact on its fourth-quarter 2005 results.

SmartWool, which makes and markets socks, apparel and accessories, will operate as a subsidiary of Timberland.

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