Vista Outdoor Inc., a global designer, manufacturer and marketer in the growing outdoor sports and recreation markets, has entered into a definitive agreement to acquire CamelBak Products, LLC. CamelBak’s products include hydration packs, reusable bottles and individual purification and filtration systems.
The company anticipated closing the transaction within the next month.
“The acquisition of CamelBak greatly advances Vista Outdoor’s strategy to grow and strengthen our leading position in the outdoor recreation industry,” said Mark DeYoung, Vista Outdoor chairman and CEO.
“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. As a market leader and preferred partner, Vista Outdoor can leverage the technical expertise of CamelBak to deliver innovative solutions and quality product offerings that will create value for our shareholders and customers,” added DeYoung.
Under the terms of the transaction, Vista Outdoor will purchase CamelBak for $412.5 million, subject to a customary working capital adjustment, utilizing cash on hand and borrowings under its existing credit facilities. Management expects calendar year 2015 net sales for CamelBak of approximately $160 million.
“CamelBak is enthusiastic about the opportunity to join the Vista Outdoor family of brands,” said Sally McCoy, CamelBak CEO.
“Their successful platform will accelerate CamelBak’s 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 added.