Granite Gear Founders Sell to Newly Formed Investment Group

Brand co-founders, Jeff Knight and Dan Cruikshank are excited to stay on board with the new management team to assist in taking the brand to new levels in the Outdoor and Travel Goods Industries. Co-owner and CFO Mike Cruikshank will remain with Granite Gear LLC for a brief transition period and then he will retire after a rewarding 20 year career in the outdoor industry.

Bryan Kinsley, CEO of Lake Forest, IL based Granite Gear LLC, has 30 years of sales and operational experience in the Outdoor and Travel Goods markets. 

 

“In putting together a list of criteria for our initial acquisition, the Granite Gear brand and team fit the bill perfectly,” said Kinsley. “We see tremendous opportunities both domestically and internationally with the superior quality and heritage the brand exemplifies.”

 

Zee Zhuang will assume role of VP of Operations and she brings over 25 years of global business experience to the Granite Gear LLC team.   She will spearhead the daily operations and factory relationships of the newly formed entity.   

 

Rob Coughlin, who will hold title of senior VP of sales and product development, is a 2010 SGB 40 under 40 honoree.  He has 20 years of executive level experience in sales and operations in the branded Outdoor, Back to School and Travel bag industry.  

 

“We’re incredibly excited and humbled to be associated with an innovative and authentic brand like Granite Gear,” said Coughlin, who was named in 2010 to the SGB 40 Under 40 list while VP of sales at High Sierra Sport Company. “We look forward to growing the brand while remaining true to the values that have kept the company in the marketplace for over 27 years.”   

Design and manufacturing will remain in Two Harbors, MN. 

 

“We feel great about the acquisition,” said Knight, who will serve as the company’s managing director. “After several meetings with the new team, we quickly felt like they were longtime friends.  It really sealed the deal for us when it became clear they saw the value of our Northern Minnesota headquarters and our long-term team of dedicated and talented staff.  We are all looking forward to continued growth and innovative developments with this influx of new leadership, experience and capital.” 

 

Dan Cruikshank, who will assume the role of Brand Ambassador, said the deal enables Granite Gear to expand.

 

“Granite Gear has developed a reputation among hard-core outdoor enthusiasts for making rock solid and innovative gear and through the acquisition, we will have the resources to expand and build further on that reputation,”  Cruikshank said.

 

Granite Gear, which was founded in 1986, makes backpacks, storage sacks, lifestyle accessories, dog products and canoe gear.  Its products are available in over 500 retail locations in 15 countries as well as at its online store. 

 

D.A. Davidson & Co. served as financial advisor to Granite Gear Inc. and Granite Gear Tactical in this transaction.