Companies

Grendene sells its US subsidiary to Canadian group Pajar

Aug 26, 2026 Brazil

The Brazilian company that owns the Ipanema and Melissa brands has signed an agreement to sell its wholly-owned US subsidiary, GGB USA, to the Canadian group Pajar for 3.61 million US dollars

Pajar will hold the entire equity interest in GGB USA, which will continue to operate in the United States (US) under its new ownership structure. As per the agreement, GGB USA will continue to market the company’s brands via the commercial arrangement established between the two parties.

According to Grendene, this transaction aligns with its “strategy of strengthening the presence of its brands in the North American market through local partners with market expertise and commercial execution capabilities, while seeking greater operational efficiency, optimization of its organizational structure, and increased focus on brand and product management”.

This move will expand the relationship between the two companies. In June 2025, Grendene formed a strategic partnership with Pajar, becoming the exclusive distributor of various Grendene footwear brands across the US and Canada, including Ipanema, Cartago, Zaxy, Rider, Azaleia and Copacabana brands.

The agreement also granted Pajar the right to sell Melissa products through its Canadian sales network. In an interview with Retail Inside, Pajar President Michel Golbert said that the Canadian business had performed well, leading to discussions with Grendene about expanding the relationship into the US.

“We were very successful with everything, and we started talking to Brazil about possibly taking over the US,” Golbert said. “One thing led to another, and we signed the deal”.

Ultimately, the deal paves the way for Pajar, a company with roots in outerwear and cold-weather products, to expand its year-round business by offering more products for spring and summer. Two years ago, the Canadian company also acquired the Cougar brand.

Image Credits: valor.globo.com

Brazil Acquisitions Companies Footwear Grendene