Rhino-Rack Acquires RockyMounts
Clarus (NASDAQ: CLAR) announced that its Adventure segment brand Rhino-Rack has acquired certain assets of RockyMounts, a Colorado-based bicycle transport products specialist. Founded in Boulder in 1993, RockyMounts is known for innovative roof and hitch rack solutions with distinct style and exceptional durability.
The acquisition aligns with Clarus's strategic focus on strengthening its Adventure portfolio, specifically targeting the bicycle racks and hitch-based products market. The integration will help accelerate Rhino-Rack's brand penetration in the U.S. and provide entry into a new product category in Australia. RockyMounts founder Bobby Noyes will continue as part of the innovation team. The transaction was funded using cash on hand, with terms undisclosed.
Clarus (NASDAQ: CLAR) ha annunciato che il brand della sua divisione Adventure, Rhino-Rack, ha acquisito alcuni beni di RockyMounts, uno specialista nella produzione di prodotti per il trasporto biciclette con sede in Colorado. Fondata a Boulder nel 1993, RockyMounts è conosciuta per le sue soluzioni innovative di portabici da tetto e da gancio, caratterizzate da uno stile distintivo e un'eccezionale durata.
L'acquisizione è in linea con l'obiettivo strategico di Clarus di rafforzare il proprio portafoglio Adventure, concentrandosi in particolare sul mercato dei portabici e dei prodotti basati su gancio. L'integrazione aiuterà ad accelerare la penetrazione del brand Rhino-Rack negli Stati Uniti e permetterà l'ingresso in una nuova categoria di prodotto in Australia. Il fondatore di RockyMounts, Bobby Noyes, continuerà a far parte del team di innovazione. La transazione è stata finanziata utilizzando liquidità disponibile, con termini non divulgati.
Clarus (NASDAQ: CLAR) anunció que su marca del segmento Adventure, Rhino-Rack, ha adquirido ciertos activos de RockyMounts, un especialista en productos de transporte de bicicletas basado en Colorado. Fundada en Boulder en 1993, RockyMounts es conocida por sus soluciones innovadoras de portabicicletas de techo y de enganche, con un estilo distintivo y una excepcional durabilidad.
La adquisición se alinea con el enfoque estratégico de Clarus de fortalecer su cartera de Adventure, centrándose específicamente en el mercado de portabicicletas y productos basados en enganche. La integración ayudará a acelerar la penetración de la marca Rhino-Rack en EE. UU. y proporcionará una entrada en una nueva categoría de producto en Australia. Bobby Noyes, fundador de RockyMounts, continuará formando parte del equipo de innovación. La transacción fue financiada utilizando efectivo disponible, con términos no divulgados.
Clarus (NASDAQ: CLAR)는 자신의 Adventure 부문 브랜드인 Rhino-Rack가 콜로라도에 본사를 둔 자전거 운반 제품 전문 업체인 RockyMounts의 특정 자산을 인수했다고 발표했습니다. 1993년 볼더에서 설립된 RockyMounts는 독창적인 스타일과 뛰어난 내구성을 갖춘 루프 및 히치 랙 솔루션으로 잘 알려져 있습니다.
이번 인수는 자전거 랙 및 히치 기반 제품 시장을 목표로 하여 Clarus의 Adventure 포트폴리오를 강화하려는 전략적 초점과 일치합니다. 통합은 Rhino-Rack의 브랜드 침투를 미국에서 가속화하고 호주에서 새로운 제품 카테고리로 진입하는 데 도움이 될 것입니다. RockyMounts의 창립자인 Bobby Noyes는 혁신 팀의 일원으로 계속 활동할 것입니다. 이번 거래는 현금으로 자금을 조달했으며, 조건은 공개되지 않았습니다.
Clarus (NASDAQ: CLAR) a annoncé que sa marque du segment Adventure, Rhino-Rack, a acquis certains actifs de RockyMounts, un spécialiste des produits de transport de bicyclettes basé dans le Colorado. Fondée à Boulder en 1993, RockyMounts est reconnue pour ses solutions innovantes de porte-vélos de toit et de attelage, avec un style distinct et une durabilité exceptionnelle.
Cette acquisition s'aligne sur l'objectif stratégique de Clarus de renforcer son portefeuille Adventure, en ciblant spécifiquement le marché des porte-vélos et des produits basés sur attelage. L'intégration contribuera à accélérer la pénétration de la marque Rhino-Rack aux États-Unis et à fournir un accès à une nouvelle catégorie de produit en Australie. Bobby Noyes, le fondateur de RockyMounts, continuera de faire partie de l'équipe d'innovation. La transaction a été financée en utilisant des liquidités disponibles, les conditions n'ayant pas été divulguées.
Clarus (NASDAQ: CLAR) gab bekannt, dass die Adventure-Marke Rhino-Rack bestimmte Vermögenswerte von RockyMounts, einem in Colorado ansässigen Spezialisten für Fahrradtransportprodukte, erworben hat. RockyMounts, 1993 in Boulder gegründet, ist bekannt für innovative Dach- und Anhängerkupplungs-Trägersysteme mit einem unverwechselbaren Stil und außergewöhnlicher Haltbarkeit.
Die Akquisition steht im Einklang mit Clarus' strategischem Fokus auf die Stärkung seines Adventure-Portfolios, insbesondere auf den Markt für Fahrradträger und anhängebasierte Produkte. Die Integration wird dazu beitragen, die Markenpenetration von Rhino-Rack in den USA zu beschleunigen und den Eintritt in eine neue Produktkategorie in Australien zu ermöglichen. Bobby Noyes, der Gründer von RockyMounts, wird weiterhin Teil des Innovationsteams sein. Die Transaktion wurde mit verfügbaren liquiden Mitteln finanziert, die Bedingungen sind nicht bekannt gegeben.
- Strategic expansion into bicycle racks and hitch-based products market
- Immediate scale addition and accelerated U.S. market penetration
- New product category entry in Australian market
- Retention of RockyMounts founder in innovation team
- None.
Insights
Acquisition deepens product expertise in key growth vertical
SALT LAKE CITY, Dec. 09, 2024 (GLOBE NEWSWIRE) -- Clarus Corporation (NASDAQ: CLAR) (“Clarus” and/or the “Company”), a global company focused on the outdoor enthusiast markets, today announced that Rhino-Rack, a leading brand in Clarus’s Adventure segment, has acquired certain assets of RockyMounts™, a Colorado-based brand specializing in bicycle transport products.
For over 30 years, RockyMounts has designed innovative roof and hitch rack solutions, attracting a dedicated following of customers thanks to the products’ distinct style and exceptional durability. Founded by Bobby Noyes in Boulder, Colorado in 1993, RockyMounts is known for making well designed and dependable premium bicycle racks and other accessories compatible with vehicles of all sizes, including SUVs, vans and trucks. Its award-winning products can be found in local and national retailers across North America.
“This acquisition underscores our continued focus on investing proactively to strengthen our Adventure portfolio,” said Warren Kanders, Clarus’ Executive Chairman. “We previously stated that we would be seeking complementary product add-ons, and we could not be more pleased to have completed the transaction with the RockyMounts team. In line with our established strategic roadmap, we’ve identified bicycle racks as a critical product category, and RockyMounts will enable us to seek to expand our addressable market to reach the broader bike rack and hitch-based products market. Importantly, we believe that adding RockyMounts will add immediate scale and help accelerate our brand penetration in the U.S., as well as provide an entry point to serve a new product category in Rhino-Rack’s home market of Australia.”
Mathew Hayward, Managing Director of Clarus’ Adventure segment, said, “With an enthusiast consumer base and innovative product offering, RockyMounts is an ideal acquisition for Rhino-Rack, and we are excited to add them to our family of brands. As we integrate the business into our facility in Colorado, we look forward to continuing to collaborate with founder Bobby Noyes, a bike rack pioneer, who will stay on as a critical member of the innovation team moving forward.”
The terms of the transaction were not disclosed, and it was funded using cash on hand.
About Clarus Corporation
Headquartered in Salt Lake City, Utah, Clarus Corporation is a global leader in the design and development of best-in-class equipment and lifestyle products for outdoor enthusiasts. Driven by our rich history of engineering and innovation, our objective is to provide safe, simple, effective and beautiful products so that our customers can maximize their outdoor pursuits and adventures. 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®, TRED Outdoors® brand names through outdoor specialty and online retailers, our own websites, distributors, and original equipment manufacturers.
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, material differences in the actual financial results of the RockyMounts acquisition as compared with expectations, including the impact of the acquisition on Clarus’ future earnings per share as well as 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 Contact:
Michael J. Yates
Chief Financial Officer
mike.yates@claruscorp.com
Investor Relations:
The IGB Group
Leon Berman / Matt Berkowitz
Tel 1-212-477-8438 / 1-212-227-7098
lberman@igbir.com / mberkowitz@igbir.com
FAQ
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