Implus expands with another acquisition

Implus, a Durham maker of footwear and outdoor accessories, has expanded its portfolio of brands by acquiring a maker of hydration belts and other products for running enthusiasts.

Financial details of the acquisition of FuelBelt, a 7-employee company based in Rhode Island and founded and led by long-time Ironman competitor Vinu Malik, weren’t disclosed.

Bert Pictor, senior vice president at Implus, said in an email that FuelBelt, founded in 1997, pioneered the development of the hydration belt category.

“It’s the product consumers ask for by name,” Pictor said. Hydration belts are used by athletes to carry water bottles and other items, such as keys and cell phones.

The acquisition is the third by Implus, which has more than 450 employees, since it was acquired by Boston private equity firm Berkshire Partners in April. The latest deal gives Implus 16 brands, including Sof Sole socks, Airplus insoles and Little Hotties hand and body warmers.

This story was originally published November 3, 2015 at 5:48 PM with the headline "Implus expands with another acquisition."