The Pro’s Closet Closes $12M Growth Investment

The Pro’s Closet, the pre-owned cycling brand, has raised $12 million in funding led by Foundry Group and Edison Partners. Ridgeline Ventures and existing private investors also joined the round. The latest round of funding brings total investment in The Pro’s Closet to more than $27 million.

CODI Invests In Rational Packaging

Compass Diversified Holdings (CODI), the parent of 5.11, Liberty Safe, Marucci Sports and Velocity Outdoor, said its Foam Fabricators business has made a strategic investment in Rational Packaging, LLC, a designer and manufacturer of recyclable, paperboard-based structural packaging components.

Forest Service Temporarily Closes Southern California National Forests, Adds Prohibitions In Others

Most of California remains under the threat, of or in the midst of, fire conditions with a combination of extreme heat, significant wind, dry conditions, and stretched firefighting resources. Due to these conditions, the USDA Forest Service (USFS) Pacific Southwest Region closed eight national forests in the Pacific Southwest affecting much of Central and Southern California.

Boardriders’ Debt Ratings Lowered

The debt ratings of Boardriders Inc., the parent of Quiksilver, Billabong, Roxy, DC Shoes, RVCA and Element brands, were downgraded by S&P. The rating agency said a new debt offering “is tantamount to a default on the term loan because the company is distressed and term loan lenders were not adequately compensated for accepting a more junior position in the capital structure.”

Altitude Sports Launches Same-Day Delivery

Altitude Sports, Canada’s online outdoor retailer, announced that it will offer a same-day delivery option to customers in Montreal as of September 1 and Next Day Delivery in Toronto this fall.

Recall: StoreYourBoard.com Hi-Lift Storage Hoists

About 36,700 Hi-Lift Storage Hoists sold by StoreYourBoard.com are being recalled. The green straps can break while the Hi-Lift Storage Hoist is in use, causing whatever object was being stored in the hoist to fall, posing an injury hazard to passersby.

American Outdoor Brands’ Q1 Revenues Climb 52 Percent

American Outdoor Brands Inc., the outdoor gear and accessories business, recently spun off from Smith & Wesson Brands, reported sales in the first quarter ended July 31 of $50.5 million, an increase of 51.9 percent, over net sales of $33.2 million for the comparable quarter last year, driven primarily by increases in both e-commerce and traditional sales channels.

Dick’s SG Announces Grand Opening Of Three Stores In September

Dick’s Sporting Goods will expand its national footprint with the opening of one Dick’s Sporting Goods store, one combination Dick’s and Golf Galaxy location and one Golf Galaxy store in September. The stores are in San Antonio, TX; Myrtle Beach, SC and Westminster, CO.

NICS Checks Climb 51 Percent In August

The FBI completed 1.68 million gun background checks on an NSSF-adjusted basis in August, a climb of 51.2 percent compared to the August 2019 NSSF-adjusted NICS figure of 1.11 million. The rate marks a slowdown versus triple-digit gains in the last two months.