LAKE · Lakeland Industries, Inc.

Lakeland Industries, Inc. has strategically divested its High Performance Flame Resistant (HPFR) and High-Visibility (HiViz) product lines to National Safety Apparel, LLC for a total consideration of $14.0 million. The transaction, which closed on March 27, 2026, aligns with Lakeland's stated objective to streamline its portfolio and concentrate investment on its global Fire services platform and core industrial PPE business. According to President and CEO Jim Jenkins, the divested business did not align with the company's core industrial product strategy, and the transaction allows for a sharper focus on markets with stronger long-term opportunities. The deal structure includes standard protections for the buyer, with $1.4 million of the purchase price allocated to escrow accounts for inventory adjustments and indemnification security. A notable term is the five-year restrictive covenant preventing Lakeland from re-entering certain business activities, underscoring the strategic nature of the exit. CFO Calven Swinea indicated that the proceeds will enhance balance sheet flexibility and support capital allocation toward the fire services strategy. The company expanded its fire services portfolio through acquisitions and internal initiatives across the United States, Europe, and Australia.