Bellingham-based LFS Inc. has sold one of its divisions in order to focus on core fishing and marine businesses.
The company sold its glove division to Safety Supply Corporation, which is part of the Radians group of companies based in Memphis, Tenn. Financial terms of the acquisition were not disclosed.
The division will be named Bellingham Glove Inc. and will be a subsidiary of Safety Supply, according to a news release from the company. The division, which had 10 employees under LFS, opened a new office at 2040 E. Bakerview Road, near the Irongate Business Park.
In a news release about the purchase of the glove division, Radians CEO Mike Tutor said the acquisition will help Radians continue an aggressive expansion of its hand protection category, including the lawn and garden market.
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Mary Padron, a spokeswoman for Radians, said the new Bellingham office will have 10 employees, most of which are sales positions. There are no plans to expand the workforce at this time.
LFS Chief Financial Officer Joe Mazzacano said they sold the glove division in order to focus on marine businesses in the Pacific Northwest and Alaska. LFS Glove served lawn and garden, industrial and hardware customers throughout the U.S.
"It (LFS Glove) operated fairly independently and the sale is not expected to impact the rest of our business," Mazzacano said in an email. He added that this also means it will have no impact on the stock of glove products sold at LFS retail stores.
LFS, which has a store at 851 Coho Way in Bellingham, also occupies warehouse space on the waterfront. Along with retail stores in Washington and Alaska, the company has a specialty netting and commercial fishing gear divisions.
Along with hand protection, Radians sells many other products, including rainwear, hearing protection, head gear and heated jackets.