Athleta
Petaluma's Athleta, which sells clothing and footwear for a variety of sports, has been purchased by Gap for $150 million.
Headquarters: Petaluma
Founded: 1998
Employees: 250
Products: Women's clothing and footwear designed for swimming, running, hiking, yoga, skiing, tennis, cycling, golf and other sports
Athleta Inc., a homegrown Petaluma catalog retailer that carved out a niche selling women's sports apparel on the Internet, is being acquired by Gap Inc. for $150 million, the two companies said Monday.
Athleta, which has 250 employees, will stay in Petaluma, said Louise Callagy, spokeswoman for San Francisco-based Gap.
"Everything is going to remain the same," she said. "Athleta will continue to be run out of the Petaluma headquarters."
Athleta will become a brand in Gap's online store, along with Banana Republic, Old Navy and Piperlime, said Glenn Murphy, Gap's CEO.
"Athleta is a great success story with loyal customers that now will become part of the Gap Inc. family of brands," he said.
Founded in 1998, the company markets clothing and footwear designed for swimming, running, hiking, yoga, skiing, tennis, cycling, golf and other sports. About 90 percent is sold under the Athleta brand.
The company, which targets active women between 25 and 55, grew in recent years with women's increased participation in sports, according to Athleta officials.
Athleta rang up an estimated $37 million in sales last year, according to Hoover's Inc., an online business database. The privately held company does not disclose revenues.
"With Gap Inc.'s e-commerce platform and iconic brands, more customers will learn about Athleta," said Joe Teno, Athleta's current CEO. "We continue to provide our existing customers with the great product ...