Thule Group this week announced the acquisition of Denver Outfitters, a Denver, CO-based maker of roof rack-mounted fly fishing rod vaults. Financial terms of the deal weren’t disclosed.
Thule said the acquisition of Denver Outfitters, which had an annual revenue of less than $1 million in 2019, is not expected to have a material impact on Thule’s financial picture.
But the acquisition broadens Thule’s expanding portfolio of products focused on an active lifestyle in the adventure camping segment, following the category additions of roof top tents and van awnings for the North American market in recent years.
“The recreational fishing category is a large global category in the outdoor industry, with close to 50 million participants in North America alone,” said Magnus Welander, CEO and president of the Thule Group. “Although fly fishing is the smallest fishing category, it is the fastest growing and anglers often travel and enjoy their fishing experience together. Therefore, being able to bring your fishing rods safely and easily is key for these consumers and the best way to do so is with fishing rod vaults mounted on the roof racks on the car. The team at Denver Outfitters have developed market leading products and with the mutual philosophies on high quality, smart engineering and great design, as well as a shared passion for the outdoors, the products are a natural fit to our portfolio.”
Photo courtesy Denver Outfitters
