Hobie Cat Company, Oceanside, CA, acquired Hobie Cat’s
business in Europe, giving the sailboat and kayak company worldwide trademark
rights and places operations of Hobie in Europe under the control of Hobie Cat
Company. While terms of the purchase are not disclosed, the agreement appears
to be enthusiastically sanctioned by both entities.

Together with Hobie Cat Australasia, the move is an attempt
to unify brand image, accelerate market expansion, focus product offerings, and
enhance brand position in the global sailing, kayaking and fishing markets. The
announcement came from Hobie Cat Company president Doug Skidmore.

“It has been a dream of ours for many years to reunite
Hobie Cat brands worldwide,” Skidmore said. “This acquisition creates
tremendous opportunities to build on the successes that Hobie Cat Company,
Hobie Cat Europe and Hobie Cat Australasia have all achieved individually in
their own markets. It will take a lot of hard work and late nights to
coordinate efforts, but the benefit to the Hobie Cat brand, our company and our
loyal customers will be significant.”

The company was founded in 1968 by Hobie Alter. In December
1975, the Coleman Company purchased the worldwide company. In January 1989, the
company was divided between U.S.-based Hobie Cat Company and Hobie Cat Europe
and sold to two separate private ownership groups. And in 1995, Hobie Cat
Company was sold to the current private ownership group. The two companies have
operated independently for the past 23 years, cooperating on many projects and
events but remaining separate entities, a situation complicated by both
companies sharing worldwide distribution rights. The new agreement is designed
to unify these rights.

The acquisition will leverage Hobie’s current marketplace
momentum and benefit all sectors of the business. The research and development
team can now think globally when designing products and entering new markets
and the sales and marketing departments can share ideas and bring a consistent
message to Hobie consumers worldwide. Coordinating the supply chain will be
especially beneficial to Hobie Kayak Europe and help them accelerate even
further the growing sale of MirageDrive kayaks in Europe.