Clarus Corporation (NASDAQ: CLAR) (“Clarus” and/or the “Company”),
a global company focused on the outdoor and consumer enthusiast
markets, today announced it has acquired Australian-based TRED
Outdoors Pty Ltd. (“TRED”) from Venlo Holdings. TRED is a
fast-growing, outdoor adventure brand producing best-in-class
innovative products across the following segments: Offroad, 4x4
automotive touring, camping and caravans. The transaction includes
a combination of cash, stock and future consideration based on
TRED’s performance. TRED will continue to operate independently as
a wholly-owned indirect subsidiary of Clarus and will be part of
the Company’s Adventure segment.
Founded in 2012, TRED is a trusted brand for key retailers and
distributors primarily in Australia, with a growing export market
including Canada, the Middle East, New Zealand, South Africa, and
the U.S. The brand, which stands for Totally Reliable Explorer
Driven, and is designed and built for the “Seriously Adventurous”
embodies Clarus’ philosophy to identify brands that are
passionately supported by customers and consumers who live and
breathe the lifestyle. TRED’s products, which are synonymous with
quality and engineering, are all made in Australia using
Australian-sourced and tested high-grade materials.
Mathew Hayward, Managing Director of Clarus’ Adventure segment,
said, “We are excited to partner with Chris Roberts and the TRED
team to seek to accelerate the brand’s growth by expanding into
global markets and through investing in TRED’s exciting new product
pipeline. TRED’s foundation is its relentless focus on customer
relationships, which we will continue to foster under Clarus’
ownership. This is a great addition to the Clarus family of
Adventure brands as we look to grow our portfolio, deepen our
relationships with key partners globally, and empower adventure of
all types for our passionate fans and friends.”
Ty Hermans, Managing Director of Venlo Holdings added, “The
Venlo team and I are immensely proud to have built TRED from the
ground up over the past 12 years, creating a powerful brand and
product development machine. Attracting the attention and support
of a global leader like Clarus validates the team's hard work and
TRED’s future potential. As part of the Clarus portfolio of
incredible brands, TRED is now poised to become a global
powerhouse, while remaining a proudly Australian made product,
supported by the same team behind the brand for more than a decade.
We are excited about the next phase in the journey and a strong and
enduring partnership supporting product development and ongoing
manufacturing from our Brisbane factory, in service to TRED and the
broader Clarus portfolio for many years to come.”
Warren Kanders, Executive Chairman of Clarus, added, “This
transaction highlights our continued focus on identifying
sought-after brands within the Adventure segment that both enhance
our offering to existing retail customers and expand our reach into
new and larger channels. The acquisition is expected to be
immediately accretive to earnings.”
Terms of the transaction were not disclosed.
About TREDTRED Outdoors is seriously committed
to Adventure and Exploration. Proudly Australian, we make
high-quality, reliable outdoor and recovery gear for the explorers
of this world – those who dream about an open, deserted track as
they sit in morning traffic; daydreaming about unzipping a tent at
first light. Whatever kind of explorer you are, we know what gear
you need to get you there. After all, we’re explorers too and have
been for decades. At our core, our mission is to encourage people
to get out and experience our world. By creating the most advanced
and reliable outdoor gear available, we allow adventurers of all
levels to explore with confidence, no matter where they are. For
additional information, please visit www.tredoutdoors.com.
About Clarus CorporationHeadquartered 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,
or www.pieps.com.
Forward-Looking StatementsPlease 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, the overall level of consumer demand on our
products; general economic conditions and other factors affecting
consumer confidence, preferences, and behavior; disruption and
volatility in the global currency, capital, and credit markets; the
financial strength of the Company's customers; the Company's
ability to implement its business strategy; the ability of the
Company to execute and integrate acquisitions; changes in
governmental regulation, legislation or public opinion relating to
the manufacture and sale of bullets and ammunition, and the
possession and use of firearms and ammunition by our customers; the
Company’s exposure to product liability or product warranty claims
and other loss contingencies; disruptions and other impacts to the
Company’s business, as a result of the COVID-19 global pandemic and
government actions and restrictive measures implemented in
response; stability of the Company’s manufacturing facilities and
suppliers, as well as consumer demand for our products, in light of
disease epidemics and health-related concerns such as the COVID-19
global pandemic; the impact that global climate change trends may
have on the Company and its suppliers and customers; the Company's
ability to protect patents, trademarks and other intellectual
property rights; any breaches of, or interruptions in, our
information systems; the ability of our information technology
systems or information security systems to operate effectively,
including as a result of security breaches, viruses, hackers,
malware, natural disasters, vendor business interruptions or other
causes; our ability to properly maintain, protect, repair or
upgrade our information technology systems or information security
systems, or problems with our transitioning to upgraded or
replacement systems; the impact of adverse publicity about the
Company and/or its brands, including without limitation, through
social media or in connection with brand damaging events and/or
public perception; fluctuations in the price, availability and
quality of raw materials and contracted products as well as foreign
currency fluctuations; ongoing disruptions and delays in the
shipping and transportation of our products due to port congestion,
container ship availability and/or other logistical challenges; our
ability to utilize our net operating loss carryforwards; changes in
tax laws and liabilities, tariffs, legal, regulatory, political and
economic risks; the Company’s ability to maintain a quarterly
dividend; and any material differences in the actual financial
results of the Company’s acquisitions as compared with
expectations, including the impact of acquisitions on the Company’s
future earnings per share. More information on potential factors
that could affect the Company's financial results is included from
time to time in the Company's public reports filed with the
Securities and Exchange Commission, including the Company's Annual
Report on Form 10-K, Quarterly Reports on Form 10-Q, and 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:Mike
YatesChief Financial OfficerTel
1‐801‐993‐1304mike.yates@claruscorp.com
Investor Relations
Contact:Gateway Group, Inc.Cody SlachTel
1‐949‐574‐3860CLAR@gateway-grp.com
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