Ski and performance apparel leader Spyder Active Sports, Inc announced its acquisition of Cloudveil Mountain Works, Inc, producers of innovative technical outdoor and mountaineering apparel. Terms of the agreement were not disclosed.
Under the agreement, Cloudveil will remain a separate brand entity and operate as a wholly owned, independent division of Spyder Active Sports. Cloudveils founders, President Brian Cousins and Vice President Stephen Sullivan have signed multi-year contracts to continue in their respective roles within the new organization.
According to Spyder President and CEO Jake Jacobs, the acquisition represents a key growth strategy for Spyder, the leading worldwide brand in ski apparel, to penetrate the larger global outdoor sports and recreation category with a core authentic outdoor brand. It also gives Spyder the opportunity to address key product line expansion and global retail channel diversification goals beyond ski specialty. “Being in the snowsports and outdoor categories with authentic, premium performance brands represent a key growth platform for our company in the long term,” Jacobs said. “Cloudveils position in the outdoor market supports our strategy to build a year-round business, develop retail channels outside of specialty ski, and own the mountain via multiple sports. Well leverage our infrastructure with Cloudveils strengths to build both brands,” he added.
“Through the acquisition process weve been impressed with the strength of the Spyder organization and management team, both Steve and I are energized by the prospects of this new partnership,” states Brian Cousins, president and co-founder of Cloudveil. “Spyder will bring to Cloudveil significant expertise in global sourcing and supply chain logistics as well as opening new distribution opportunities, which should significantly impact Cloudveils already strong growth profile.”
Cloudveils principal offices and flagship retail store will remain in Jackson, Wyoming, with the in-house team and independent sales force remaining intact to form a foundation for near and future expansion.
