Fewer major deals were executed across the active lifestyle space in 2023 amid rising interest rates and persistent economic uncertainty, but several tuck-ins and smaller to medium-size acquisitions were inked during the year.
A clear trend was seen in the divesture of brands by former brand consolidators, including Wolverine Worldwide, VF Corp. and Vista Outdoor to jettison strong brands that no longer fit a new tighter brand management model. Wolverine and VF Corp. are now focused less on the number of brands and more on fewer key brands that can grow globally and through direct-to-consumer. Authentic Brands Group (Authentic) is acquiring brands it can license to key partners globally, while Wolverine is licensing some of its former core brands. Vista divested firearms and ammo brands over the last few years to fit within a new corporate profile.
Among the larger companies and well-known brands that struck new deals in 2023 was the highly-anticipated acquisition by Authentic of the Boardriders business, which includes the Quiksilver, Roxy and DC Shoes brands, among other beach and street lifestyle brands. Authentic spent the rest of the year lining up Boardriders partners to nail down regional partners to manage the global business.
Other brands that changed hands included Hunter, Marucci Sports, Nobull, Rockport, and United Sports Brands, along with Walmart divesting the Moosejaw retail business to Dick’s Sporting Goods.
The other trend in 2023 was the continued consolidation of the RV Dealer market, led by acquisitions made by Camping World and the Fitness Center and Pickleball segment, led by Life Time and EoS deals, which saw acquisitions and new facilities open and new franchisees named across the U.S. market.
In Europe, JD Sports continued to make its play, creating a global retail powerhouse in the active lifestyle fashion and performance spaces.
Below is the list of M&A transactions SGB Media reported in the first half of 2023. The back half of the year can be read here for July through December 2023.
January 2023
Giant Group Acquires Minority Stake In Stages Cycling
Giant Group, headquartered in Portland, OR, acquired a 32.5 percent stake in Stages Cycling, a maker of stationary smart bikes for the commercial gym and home markets and crankarm-based power meters.
Strava Acquires Outdoor Adventure Mobile App Company
Strava acquired Fatmap, a mobile app for outdoor enthusiasts, giving its subscribers access to the full offering.
Dragon Seats Acquires Athletic Recovery Zone
Dragon Seats, the manufacturer of heated and cooling sports benches, acquired Athletic Recovery Zone, LLC, the air conditioning and heating sports bench technology manufacturer.
Fore Runner Brand Feeds Acquires Monster Meal
Fore Runner Brand Feeds, LLC acquired the Monster Meal brand of wildlife feed and attractants.
Alterra Closes on Snow Valley Mountain Resort Acquisition
Alterra Mountain Company closed on the purchase of Snow Valley Mountain Resort, adding another Southern California destination to its regional portfolio.
Meyer’s RV Acquires Rochester RV Dealership
Meyer’s RV, with 13 RV dealerships on the East Coast, purchased Johnston RV, a full-service RV dealership in Webster, NY.
White Mountain Footwear Acquired By American Exchange Group
American Exchange Group acquired White Mountain Footwear. The acquisition builds on American Exchange Group’s acquisition of Aerosoles in January 2022.
High Speed Gear Acquires BlackPoint Tactical
High Speed Gear acquired BlackPoint Tactical, the manufacturer of custom, hand-crafted holsters headquartered in Alpharetta, GA.
GT Golf Holdings Acquired by PR Firm
Kinzie Capital Partners LP, a Chicago-based private equity firm, acquired GT Golf Holdings, Inc., the golf accessories provider based in Vista, CA. The transaction was completed in partnership with GT Golf’s management.
Fernandez Holdings Acquires Kash CA
Fernandez Holdings, Inc. acquired Kash CA, which includes the firearms brands of Freedom Munitions, Ammo Load Worldwide, X-Treme Bullets, and LAX Ammunition retail locations.
Emerald Acquires Lodestone Events
Emerald Holding, Inc., which owns Outdoor Retailer, Surf Expo and other trade shows, acquired Lodestone Events, producers of the Overland Expo series of vehicle-based, adventure travel consumer shows.
Apex Mills Acquires Hanesbrands Plant
Apex Mills purchased a former HanesBrands plant in Virginia.
Next Level Apparel Acquires Stedman GmbH
Blue Point Capital Partners and its portfolio company Next Level Apparel acquired Germany-based Stedman GmbH, a designer, manufacturer and supplier of casual and sportswear blank apparel for the printwear, retail, brand specialty, and other decorated apparel industries.
L2 Brands Acquires Ouray Sportswear
L2 Brands, a branded apparel and headwear manufacturer, purchased Ouray Sportswear from S&S Activewear.
The Original Fit Factory Closes On Eight Acquisition Deals
Scottish digital fitness brand The Original Fit Factory purchased eight companies in a $137 million (£111.6m) acquisition as it diversifies into multiple digital fitness areas.
Digital Brands Group Completes Acquisition of Sundry
Digital Brands Group, Inc. completed the acquisition of the lifestyle apparel brand Sundry.
February 2023
Janji And Oiselle Brands To Merge
Janji, a Boston-based running apparel brand, and Oiselle, a Seattle-based women’s athletic apparel company, entered into a collaborative partnership through a merger facilitated by Digsbury Ventures.
Dick’s SG to Acquire Moosejaw from Walmart
DKS announced plans to acquire Moosejaw from Walmart, expanding its outdoor portfolio, led by specialty chain, Public Lands. In September, Dick’s announced plans to close 11 of 14 Moosejaw’s stores and relocate Moosejaw’s corporate team to Public Lands’ headquarters in Pittsburgh.
Fox Factory Acquires Custom Wheel House
Fox Factory Holding Corp. agreed to acquire Custom Wheel House, LLC from Thompson Street Capital Partners and other sellers for $131.6 million.
Running Supply Acquires Achille Agway
Running Supply, Inc., operating as Runnings and based in Marshall, MN, agreed to acquire Achille Enterprises, Inc. Operating under Achille Agway, Achille Enterprises owns six farm and home stores in New Hampshire and Vermont.
Vortex Optics Acquires GeoBallistics
Vortex Optics acquired GeoBallistics, a Dallas, TX-based business providing ballistic mobile application software.
Lazydays Acquires Findlay RV in Las Vegas
Lazydays purchased Findlay RV in Las Vegas, bordering four of the top 15 RV market states, and complimenting the company’s operations in Arizona.
EBay Acquires 3PM Shield
EBay, Inc. acquired 3PM Shield, LLC, a provider of AI-based marketplace compliance solutions to improve eBay’s monitoring solutions with new technologies preventing the sale of counterfeit merchandise, unsafe products and illegal products.
Designer Brands Acquires Keds from Wolverine Worldwide
Designer Brands, the parent of DSW, acquired Keds from Wolverine Worldwide.
Titleist Parent Acquires Club Glove
Acushnet Holdings Corp., the parent of Titleist and Footjoy, purchased the Club Glove brand from West Coast Trends, Inc.
Ocala North RV Resort Acquired
DLP Capital acquired Ocala North RV Resort in Reddick, FL near Gainsville for $33 million. The Ocala North RV Resort, spanning 73 acres in central Florida’s horse country, consists of 385 sites for RVs and cottages.
Sample N’Co Acquires Rollin’Stoke
Sample N’ Co., a French distributor of snowboards, skis, bindings, outerwear, and accessories, acquired Rollin’Stoke, a French distributor of skateboards and surfboards.
March 2023
RecNation Acquires First RV Storage Facility in Nashville Market
RecNation Storage acquired its first recreational storage facility in Nashville, TN. The company said it is the first institutional-grade specialized storage company created to serve the growing need for recreational vehicle storage
Canada’s Mountain Sports Distribution Acquired By PE Fund
Mountain Sports Distribution, Inc., a distributor in the powersports industry headquartered in Golden, BC, was acquired by KV Capital.
Burberry to Acquire Technical Outerwear Factory
Burberry announced plans to acquire a specialist technical outerwear factory from Pattern SpA, a longtime supplier whose business activities include engineering and production of luxury garments. The purchase price is €21 million ($23 mm).
Hurley Owner Acquires Scotch & Soda
Bluestar Alliance, the New York-based owner of Hurley, Bebe and Tahari, acquired Dutch fashion brand Scotch & Soda, which had filed for bankruptcy in the Netherlands.
Camping World to Acquire Utah RV Retailer
Camping World Holdings, Inc. agreed to acquire Utah-based Carbon Emery RV, which includes two dealerships located along US Route 6 between Provo and Interstate 70.
Aleck Acquires Tocsen
Aleck, the maker of wireless audio and communication systems for outdoor sports, acquired Tocsen, the German maker of intelligent helmet-mounted crash sensors.
Rack Attack Acquires Two Stores in Calgary
Rack Attack, the retailer of car racks, bike racks, rooftop tents, Overlanding, and other outdoor gear, acquired two stores in Calgary, previously owned by Racks Unlimited, bringing the total number of Rack Attack stores to 38 in North America.
Start 2 Finish Acquires Fleet Feet Race Productions
Start 2 Finish Event Management, with offices in Atlanta, GA; Charlotte, NC; and Memphis, TN, acquired the Race Productions division of Fleet Feet St. Louis to expand its reach in the Midwest and further establish itself in the event management industry.
Sig Sauer Acquires General Robotics
Sig Sauer acquired General Robotics, the manufacturer of remote weapon stations and tactical robotics for manned and unmanned platforms and anti-drone applications.
TuffStuff Fitness Acquired by Brooks Industrial Marketplace
TuffStuff Fitness International, Inc., the 52-year-old strength equipment manufacturer, was acquired by metals processing and fabrication specialist Brooks Industrial Marketplace.
Rocky Mountain Acquires BikeAction GmbH
Rocky Mountain acquired BikeAction GmbH, a bike distributor headquartered in Germany. The acquisition, built on a 30-plus-year partnership, vertically integrates the Canadian manufacturer into the European market and supports riders in BikeAction’s Northern European region.
PleasureLand RV to Acquire Brambillas RV
St. Cloud, MN-based PleasureLand RV Center acquired Brambillas RV in Shakopee, MN, which became Pleasureland’s ninth location.
Camping World to Acquire Northern California’s Pan Pacific RV Center
Camping World Holdings, Inc. agreed to acquire Pan Pacific RV Center, including two northern California RV dealerships in French Camp and Morgan Hill.
Patagonia Provisions Acquires Moonshot
Patagonia Provisions, the food and beverage division of Patagonia, acquired Moonshot, a plant-based snack brand based in San Francisco.
Harvest Hosts to Acquire Brit Stops U.K. Motorhome Hosting Service
Harvest Hosts, a membership program that gives RVers access to RV camping options, announced plans to acquire Brit Stops, a company that connects motorhome tourists in the U.K. with a network of small businesses and farms.
The Athlete’s Foot Closes Acquisition of Sneakers Market S.A. in Greece
TAF completed the acquisition of Sneakers Market SA, a subsidiary of Fourlis Group that operates TAF stores in Greece.
Half-Moon Outfitters Acquired by Shoe Show
Half-Moon Outfitters, the outdoor retailer based in Charleston, SC, has been acquired by Shoe Show, Inc.
Pickleball4America Merges with US Open Pickleball Championships
Pickleball4America made a series of announcements highlighted by its merger with the US Open Pickleball Championships, launching a Ballpark Festival Series and the closure of its initial round of funding.
April 2023
Evnroll Putters to Merge with Uneekor
Creatz, Inc., the parent company to South Korean golf technology company Uneekor, acquired a majority stake in the Carlsbad, CA-based putter brand Evnroll.
Skechers Acquires its Scandinavian Distributor
Skechers agreed to acquire its Scandinavian distributor, Sports Connection Holding ApS.
Chuze Fitness Acquires Bailey’s Health & Fitness
Chuze Fitness, a family-owned health club chain with 44 locations across the Western U.S., acquired Jacksonville, FL-based Bailey’s Health & Fitness with 16 locations.
Norrøna Acquires Canvas Hotel Telemark
Norrøna acquired the Canvas Hotel Telemark, a wilderness lodge, including luxury yurts, for mountain bikers, with over 100 kilometers of rock trails connected by singletrack.
Movement Climbing, Yoga and Fitness Acquires Four Summit Climbing Gyms in DFW Area
Movement Climbing, Yoga and Fitness, the largest nationwide community of indoor climbing gyms, acquired four Summit Climbing, Yoga and Fitness Gyms’ in the Dallas-Fort Worth metro area.
Camping World to Acquire All Seasons RV in Oregon
Camping World Holdings, Inc. agreed to acquire All Seasons RV in Bend, OR, bringing the number of Camping World locations in Oregon to six.
Camping World to Acquire Travel Land RV Center in Michigan
Camping World Holdings, Inc. reported it would acquire Travel Land RV Center in Houghton Lake, MI.
EoS Fitness Acquires Houston Fitness Chain
EoS Fitness increased its Texas presence bringing its national footprint to 75 open gyms with the acquisition of Houston-based Texans Fit, a five-gym chain founded by the Houston Texans and fitness company M6 Football.
Camping World Holdings to Acquire Arkansas RV Center
Camping World Holdings, Inc. reported it would acquire Breeden RV Center in Van Buren, AR. The acquisition will increase the company’s Arkansas location count to four.
Fanatics Acquires Italian Sports Retailer EPI
Fanatics acquired EPI, a Milan-based company that operates e-commerce and brick-and-mortar stores for Italian soccer clubs and the NBA. Fanatics will also acquire The Pitch Football Store, a football specialist omnichannel retailer.
Apparel Brands Acquires Nicce
Apparel Brands, Ltd., the licensed owner of Seafolly and Ed Hardy, acquired East-London-based streetwear brand Nicce, a creator of minimalist streetwear designs.
Marucci Sports Acquires Baum Bat
Marucci Sports, LLC acquired Baum Enterprises, LLC, a designer and manufacturer of composite wood bats.
Sportstats World Acquired By Investment Group Led By Employee
Sportstats World completed its internal sale to an investment group led by the director of operations and lead timer A.J. Mousseau and Grand Rapids, MI, based Carbon River Capital.
May 2023
Kampgrounds Of America Buys Back Oldest KOA Campground and Two Yellowstone Locations
Kampgrounds of America, Inc. purchased three KOA properties—Billings KOA Holiday in Billings, MT, Yellowstone Park/West Gate KOA Holiday and Yellowstone Park/Mountainside KOA Holiday located near West Yellowstone, MT.
Fanatics Buys PWCC to Enter Collectibles Auction Space
Fanatics Collectibles, part of Fanatics Inc., acquired PWCC Marketplace, the largest sports card, memorabilia and collectibles auction houses.
Luck E Strike Lures Acquired by Singer Toby Keith
Luck E Strike Corp., a fishing lure manufacturer headquartered in Cassville, MO, was acquired by country singer Toby Keith.
Authentic Brands Finalizes Acquisition of Vince Intellectual Property
Authentic Brands Group acquired the intellectual property of the Vince fashion brand.
Lolë Acquires Époque Évolution
Lolë, the Montreal-based activewear and outerwear brand, acquired Époque Évolution a sustainability-focused women’s apparel brand based in San Anselmo, CA.
MeatEater, Inc. Acquires Dave Smith Decoys
MeatEater, Inc. acquired Dave Smith Decoys (DSD), a maker of hunting decoys and gear.
Fanatics to Acquire PointsBet’s U.S. Assets to Jumpstart Gambling Push
Fanatics agreed to acquire the U.S. operations of PointsBet, marking a big leap into U.S. sports gambling for Fanatics. The deal is worth about $150 million in cash.
Solo Brands Acquires TerraFlame
Solo Brands, Inc., the parent of Solo Stove, Chubbies, Oru Kayak, and Isle, acquired TerraFlame, the maker of indoor fireplace and fire accessories company based in Laguna Niguel, CA.
Foundation Wellness Acquires Currex as Complement to Powerstep Brand
Foundation Wellness acquired Currex, a brand of insoles designed for athletes and active individuals. Currex is a top brand in retail running stores across the U.S. and Germany.
Camping World to Enter Montana Through Acquisition
Camping World Holdings, Inc. announced plans to acquire I-90 RV in Billings, its first location in Montana.
Private Investment Firm Acquires Good Feet Store Franchisee in Midwest
Exaltare Capital Management, LLC acquired GF Midwest, Inc., one of the largest developers and operators of the Good Feet Store, operating 23 franchises across nine states. GF Midwest is headquartered in Milwaukee, WI.
Francesca’s Acquires Los Angeles Lifestyle Brand Richer Poorer
Francesca’s Acquisition, LLC, the parent of Francesca’s and Franki by Francesca’s women’s and girls apparel chains, reported the asset purchase of California-based wardrobe essentials brand Richer Poorer.
Outtech, Inc. Acquired by Legacy1846 Outdoor Group
Outtech, Inc., with subsidiaries QuickFire and Peak Strategic Insights, was acquired by Legacy1846 Outdoor Group, an investment holding company.
Winnebago Industries Completes Acquisition of Lithionics Battery
Winnebago Industries, Inc. acquired Lithionics Battery, a lithium-ion battery provider to the recreational equipment and specialty vehicle markets.
Intersport France Set to Acquire Go Sport Out Of Receivership
The Grenoble Commercial Court in France has ruled that Intersport France will acquire French retailer Go Sport in partnership with Qatari firm Al-Mana. The Court’s unanimous opinion supported an Intersport/Al-Mana bid valued at €35 million.
June 2023
Gared, Performance Sports Systems Merge to Create New Brand
Gared and Performance Sports Systems, both part of Gared Holdings, LLC., merged from Gared Performance Sports Systems.
Overstock.com Acquires Bed Bath & Beyond’s Intellectual Property
Overstock.com acquired the intellectual property assets of the Bed Bath & Beyond banner under a Bankruptcy Court supervised process. The company purchased the assets for $21.5 million, funded with cash on hand.
Colt CZ Group Acquires SwissAA Holding AG
Colt CZ Group SE acquired Swiss ammunition producer SwissAA Holding Ag. SwissAA manufactures ammunition and law enforcement technology, specializing in small caliber ammunition, specifically 5.56 mm, 7.62 mm, 9 mm, and 12.7 mm, and 40 mm grenade launcher ammunition.
TRX Acquires Australian Fitness Equipment Company
TRX, known for its suspension trainers for fitness, acquired YBell, an Australian fitness equipment company. TRX said the strategic acquisition enhances its patented product offering and training solutions.
Camping World Holdings To Acquire Arkansas RV Dealer
Camping World Holdings acquired multi-location RV dealer Crain RV in Arkansas. Crain operates locations in Benton, Springdale and Little Rock, predominantly selling Jayco, Winnebago, Tiffin, Coachmen, and Forest River products.
Game Time Productions Acquires Subsidiaries of Altitude International Holdings
Greenlite Ventures, Inc., dba Game Time Productions, acquired Altitude Wellness, Inc., Trident Water LLC. and Altitude International, Inc, operating as wholly-owned subsidiaries of Altitude International Holdings, Inc.
Camping World to Acquire Wisconsin RV Center in Green Bay
Camping World Holdings, Inc. announced plans to acquire Van Boxtel RV in Green Bay, WI. The acquisition increases Camping World’s Wisconsin location count to seven.
Fanatics Acquires Latin American Wholesaler
Fanatics completed the acquisition of Fexpro, a wholesaler of licensed sports and branded apparel in Latin America.
Camping World to Acquire Oregon RV Dealer, Adding Three Locations
Camping World Holdings, Inc. announced plans to acquire Funtime RV in Oregon. Funtime operates three locations in Tualatin, Sandy and Klamath Falls, predominantly selling Forest River RV and Keystone RV products.
C. Bradley Acquires Dansons US
C. Bradley Co. acquired Dansons US LLC in a merger of grill manufacturers. Dansons also owns Surelock gun safes.
Camping World To Acquire Dealership In Greater Seattle Area
Camping World Holdings, Inc. reported it will acquire Halterman’s RV in the greater Seattle market.
Camping World Acquiring Mid-Atlantic RV Dealer
Camping World Holdings, Inc. is set to acquire Hitch RV, including three locations across Delaware, Pennsylvania and New Jersey.
Bala Footwear Brand Founded by Former Nike, UA Execs Acquired by Careismatic
Careismatic Brands, Inc. reported it acquired Bala Footwear, a nursing footwear company. Bala was founded in 2020 in Portland, OR, by former Nike executives Brian Lockard and John Eberle and former Under Armor executive Caprice Neely.
Camping World Holdings to Acquire RV Center Outside Seattle
Camping World Holdings, Inc. plans to acquire Roy Robinson RV Center in the greater Seattle, WA market. The acquisition increases Camping World’s Washington location count to seven.
Twin Vee PowerCats Acquires Aquasport
Twin Vee PowerCats, the manufacturer of power sport catamaran boats, acquired the Aquasport boat brand and its 150,000-square-foot manufacturing facility in White Bluff, TN.
Skeleton Optics Acquired
Skeleton Optics, Inc., the sunglass and protective eyewear brand based in Wellington, FL, was acquired by Stronger Leadership, based in Palm Beach Gardens, FL and led by Eric Storey.
SellerX Acquires U.S. Amazon Aggregator
SellerX, headquartered in Berlin and one of the largest e-commerce aggregators in Europe, acquired Elevate Brands, one of the largest e-commerce aggregators in the U.S. The combined business, SellerX Group, will become one of the largest global consolidators of e-commerce brands with over €400 million in total sales.
Authentic Acquires Hunter Brand Intellectual Property
Authentic Brands Group acquired the intellectual property of the Hunter Boots brand. Authentic said the Hunter brand has evolved over 160-plus years from a rubber boot to a lifestyle brand, offering an expansive footwear collection, outerwear, bags, and accessories.
MarineMax Acquires C&C Boat Works
MarineMax Inc. announced the acquisition of C&C Boat Works, a full-service boat dealer in Crosslake, expanding MarineMax’s footprint in Minnesota to five locations.
Alterra Mountain Company To Acquire Schweitzer In Idaho
Alterra Mountain Company agreed to purchase Idaho’s Schweitzer, expanding its portfolio in the Pacific Northwest by joining Crystal Mountain in Washington.
Access other SGB Media Year in Review content here:
2023 Year in Review: Active Lifestyle M&A Activity Slows—Part II
In Memorium: Remembering the Active Lifestyle Leaders Lost In 2023
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