Clarus Acquires Barnes Bullets’ Headquarters, Further Solidifying Utah Presence

Rhea-AI Summary

Clarus Corporation (NASDAQ: CLAR) has acquired the headquarters and production facility of its Barnes® brand in Mona, Utah for $9.5 million. This strategic purchase aims to enhance production capacity to meet increasing customer demand, as stated by President John Walbrecht. The acquisition underscores Clarus's commitment to its 'super-fan' brands and its operational growth in the outdoor and consumer enthusiast markets.

Positive

• Acquisition of Barnes® headquarters boosts production capacity.
• Strategic purchase valued at $9.5 million enhances operational flexibility.
• Commitment to serve customers better through increased output.

Negative

• None.

Purchase Reinforces Commitment to the State of Utah and Allows Barnes’ to More Efficiently Expand Capacity

SALT LAKE CITY, Dec. 20, 2021 (GLOBE NEWSWIRE) -- Clarus Corporation (NASDAQ: CLAR) (“Clarus” and/or the “Company”), a global company focused on the outdoor and consumer enthusiast markets, today announced that it purchased the headquarters of its Barnes^® brand. The building, located in Mona, Utah, is both the headquarters and production facility for the Company’s Barnes^® brand. Clarus purchased the building and land for $9.5 million.

John Walbrecht, President of Clarus, said, “By making the strategic decision to purchase Barnes’ headquarters and surrounding land, we believe that we now have greater flexibility to expand capacity for the Barnes^® brand, which is of high importance as we look for ways to better serve our customers through increased output to meet expected continued strong demand. We are deeply committed to not only growing our portfolio of ‘super-fan’ brands, but also investing in the people and places that make our brands who they are today. We are thrilled to be further solidifying our presence in the great state of Utah.”

About Clarus Corporation
Headquartered in Salt Lake City, Utah, Clarus Corporation is a global leading designer, developer, manufacturer and distributor of best-in-class outdoor equipment and lifestyle products focused on the outdoor and consumer enthusiast markets. Our mission is to identify, acquire and grow outdoor “super fan” brands through our unique “innovate and accelerate” strategy. We define a “super fan” brand as a brand that creates the world’s pre-eminent, performance-defining product that the best-in-class user cannot live without. Each of our brands has a long history of continuous product innovation for core and everyday users alike. The Company’s products are principally sold globally under the Black Diamond^®, Rhino-Rack^®, MAXTRAX^®, Sierra^®, and Barnes^® brand names through outdoor specialty and online retailers, our own websites, distributors and original equipment manufacturers. Our portfolio of iconic brands is well-positioned for sustainable, long-term growth underpinned by powerful industry trends across the outdoor and adventure sport end markets. For additional information, please visit www.claruscorp.com or the brand websites at www.blackdiamondequipment.com, www.rhinorack.com, www.maxtrax.com.au, www.sierrabullets.com, www.barnesbullets.com, www.pieps.com, or www.goclimbon.com.

Forward-Looking Statements
Please note that in this press release we may use words such as “appears,” “anticipates,” “believes,” “plans,” “expects,” “intends,” “future,” and similar expressions which constitute forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are made based on our expectations and beliefs concerning future events impacting the Company and therefore involve a number of risks and uncertainties. We caution that forward-looking statements are not guarantees and that actual results could differ materially from those expressed or implied in the forward-looking statements. Potential risks and uncertainties that could cause the actual results of operations or financial condition of the Company to differ materially from those expressed or implied by forward-looking statements in this release, include, but are not limited to, those risks and uncertainties more fully described from time to time in the Company's public reports filed with the Securities and Exchange Commission, including under the section titled “Risk Factors” in the Company's Annual Report on Form 10-K, and/or Quarterly Reports on Form 10-Q, as well as in the Company’s Current Reports on Form 8-K. All forward-looking statements included in this press release are based upon information available to the Company as of the date of this press release and speak only as of the date hereof. We assume no obligation to update any forward-looking statements to reflect events or circumstances after the date of this press release.

Company Contacts:
John C. Walbrecht
President
Tel 1-801-993-1344
john.walbrecht@claruscorp.com
or
Aaron J. Kuehne
Executive Vice President and Chief Financial Officer
Tel 1-801-993-1364
Aaron.kuehne@claruscorp.com

Investor Relations Contact:
Gateway Investor Relations
Cody Slach
Tel 1-949-574-3860
CLAR@gatewayir.com

FAQ

What did Clarus Corporation purchase recently?

Clarus Corporation acquired the headquarters and production facility of its Barnes® brand in Mona, Utah.

How much did Clarus pay for the Barnes® facility?

Clarus paid $9.5 million for the Barnes® headquarters and surrounding land.

What is the significance of Clarus's acquisition of the Barnes® headquarters?

The acquisition is aimed at increasing production capacity to meet strong customer demand for the Barnes® brand.

What does the acquisition of the Barnes® facility mean for Clarus's future?

It solidifies Clarus's presence in Utah and supports its strategy to expand operational capabilities for its brands.