Quebec, Canada-based Pelican International, Inc. announced today that it acquired a majority stake in GSI Outdoors. According to the company, it will operate the new acquisition as a standalone business.
Pelican International today added another portfolio item to its growing quiver of outdoor brands. The Canadian company principally owned paddling and fishing brands before acquiring a majority stake in camp cookware-focused GSI Outdoors.
“The acquisition of GSI Outdoors, our third since 2019, allows us to pursue our ambition to be an eco-friendly leader in the outdoor equipment sector by investing in a portfolio of renowned brands that respond to the growing desire of the population to connect more with nature,” said Danick Lavoie, President and CEO of Pelican International.
“While our last acquisitions consolidated our leading position in the paddle sports, fishing boats, and nautical accessories sector, the integration of GSI Outdoors into our fold allows us to diversify our activities and makes a remarkable entry into a sector that has shown sustained growth for several years which is expected to be maintained for the years to come.”
Pelican, a 50-year-old, family-owned firm, said the acquisition allows it to give its customer base more options — now outfitting them both in the water and around the picnic table. For Washington-based GSI, it amounts to an opportunity to expand through leveraging Pelican’s resources.
Per the agreement terms, the GSI management team, including co-founders/co-presidents Don Scott and Ian Scott, will stay in place.
“It was our love of the outdoors and our desire to provide quality products that motivated us to found GSI Outdoors in 1985. Today, our commitment remains the same, and in Pelican International, we have found the perfect partner to take the company to the next level,” said Don, Ian, and Kathy Scott (also a co-founder).
Pelican International currently owns three manufacturing sites in North America, supporting brands like Mad River Canoe, Wilderness Systems, and Dagger.
So long as GSI Outdoors keeps making our favorite camp mug, we’re A-OK with it.