Less than 24 hours after reports by the Rock Fight podcast that YETI planned to sunset the Mystery Ranch brand, the Austin cooler giant told GearJunkie, “Going into 2025, we plan to have key products for Outdoor, Everyday and Hunt under the Mystery Ranch brand.”
YETI did not directly refute the rumors. Instead, it noted that the brand will continue to evolve under its leadership. The complete statement from Layne Rigney, head of soft goods and bags at YETI, is as follows:
“We continue to be excited about integrating Mystery Ranch’s talent and designs into our business and future YETI expansion, building upon their legacy as a premier maker of incredible packs. Going into 2025, we plan to have key products for Outdoor, Everyday and Hunt under the Mystery Ranch brand. We have also been hard at work on a pipeline of new bags we are excited to introduce next year. Our team in Bozeman remains committed to Mystery Ranch’s mission to support those who serve in the Military and Wildland Fire, and the Mission products will remain under the Mystery Ranch name going forward.”
GearJunkie editors had heard rumors for weeks that YETI had plans to end the Mystery Ranch branding just 10 months after it purchased the Bozeman, Montana-based company. The speculation gained traction when the Rock Fight podcast broke the news on Wednesday morning. A Rock Fight representative told GearJunkie that several retailers and sales representatives for Mystery Ranch had contacted the podcast about YETI’s plans.
YETI purchased Mystery Ranch in spring 2024 for $36 million. Though YETI refrained from further comment, the company has a history of buying — and rebranding — its acquisitions.
YETI Launches Bags ‘Inspired’ by Mystery Ranch
Today’s report comes just days after YETI announced a new line of bags “inspired” by Mystery Ranch, Outdoor Retailer reported last week.
In a company meeting on November 7, YETI President Matt Reintjes said Mystery Ranch products had met sales expectations. The company’s net sales increased 10% in this year’s third quarter, and YETI’s new bags would leverage Mystery Ranch’s premium design, Reintjes said.
“We’re incredibly excited about what’s in front of us in bags,” Reintjes said in the meeting. “We think that is a massive global market that is right for YETI.”
In other words, Mystery Ranch’s packs, long popular among backpackers and hunters, will likely continue to be produced — just with YETI branding instead. This would be identical to YETI’s playbook with the brand Butter Pat. YETI acquired the cast iron cookware company in January 2024, shortly before the purchase of Mystery Ranch.
You can still purchase products nearly identical to the original Butter Pat — only today they carry YETI branding. Moreover, YETI’s strategy of buying boutique brands will likely continue, according to a recent analysis by Simply Wall Street.
Given YETI’s strong growth trajectory this year, with net income reaching over $56 million, the company is “actively pursuing strategic acquisitions and share repurchases, leveraging its solid cash position to fuel further expansion,” Simply Wall Street reported.
What’s Next for Mystery Ranch Founder?
After its founding in 2000, Mystery Ranch gradually earned a loyal following of backpack lovers. But it was only the latest outdoor brand from founder Dana Gleason.
Gleason hasn’t yet responded to GearJunkie for comment, but his LinkedIn page still lists him as the owner and principal designer of Mystery Ranch. Originally from Boston, Gleason moved to Bozeman, Montana, in 1975, where he began his career in the outdoor gear industry. Since then, Gleason has founded four outdoor companies, including Mystery Ranch.
He first began making durable backpacks with his brand, Kletterwerks. After selling his shares to partners in 1978, he founded Mojo Systems, a pack company aimed at camera and computer bags.
“Incorporating plastics, synthetics, and fiberglass into the production of different bags, Dana pioneered aspects of pack development that have now become the industry standard,” Outside Bozeman wrote in 2010. “Dana and his design team began creating highly specialized products for their customers … and began to shape an important principle that would come to heavily influence the philosophies of Mystery Ranch.”
In 1985, Gleason sold Mojo Systems (it was called Quest Systems by that time) and launched Dana Designs out of his house. For 10 years, Gleason’s innovative backpacks were the envy of outdoors lovers, GearJunkie wrote in 2015. Or it was, until Gleason once again sold his company in 1995, this time to K2 Corporation.
At that point, Gleason took a couple of years off to travel. When he returned to the industry 5 years later, he created Mystery Ranch. In the early years, Gleason’s highly technical packs were a big hit for the U.S. military and firefighters. It wasn’t until 2016 that the brand made a big push in the recreation segment, launching backpacks for hikers and climbers.
That proved successful enough to make the brand desirable to YETI, which announced the purchase of Mystery Ranch in January 2024. After 45 years, it’s anyone’s guess if Gleason will want to create yet another outdoor brand.
