A major player in the outdoors and recreation industry, Vista Outdoor has announced it will acquire CamelBak, the largest producer of hydration packs and accessories.
Vista Outdoor Inc. announced it has entered into a definitive agreement to acquire CamelBak Products LLC. CamelBak is the leading provider of personal hydration products for outdoor, recreation, and military use.
The company’s products include hydration packs, reusable bottles, and purification and filtration systems.
The CamelBak announcement comes shortly after another Vista Outdoor acquisition. The Utah-based company bought Jimmy Styks LLC, a market leader in the SUP category, for approximately $40 million in an all-cash transaction.
CamelBak and Jimmy Styks will expand Vista Outdoor’s presence in the outdoor sports and recreation market to make it one of the largest companies in the outdoors industry.
Vista Outdoor formed in April 2015, and with 30+ brands under its umbrella is already among the biggest companies in the outdoors.
Its reach encompasses everything from Bollé ski goggles to Federal ammunition, to Bushnell optics.
The acquisition of CamelBak adds one of the most recognizable brands to the company’s portfolio.
“With limited overlap between our key customers, this acquisition creates significant cross-selling opportunities, increased channel presence and access into expanded domestic and international markets,” said Mark DeYoung, Vista Outdoor Chairman and Chief Executive Officer.
Under the terms of the transaction, Vista Outdoor will purchase CamelBak for $412.5 million.
Future Of CamelBak
Sally McCoy, CamelBak CEO, said the company’s successful platform will accelerate growth as a global brand. “Vista Outdoor supports our mission to continue to reinvent the way people hydrate and perform through innovative hydration products,” she said.
Founded in 1989 and headquartered in Petaluma, California, CamelBak is the category creator of hands-free hydration. It has an expansive network of customers, ranging from REI to Target.
CamelBak has about 300 employees. The brand will be integrated into the Outdoor Products segment of Vista Outdoor.
The transaction is subject to regulatory approvals and customary closing conditions. Vista Outdoor anticipates closing the transaction within the next month.