USWE Sports AB, a publicly traded backpack company based in Malmö, Sweden, has acquired Bend, OR-based Giant Loop, LLC, a powersports brand known for its off-road motorcycle soft luggage designs. The transaction is scheduled to close on July 1. Terms were not disclosed.
USWE said the acquisition provides it with a strong position in the premium segment for panniers, saddlebags, tank bags, and dry bags for the off-road powersports market.
Giant Loop’s Bend headquarters offers USWE a U.S. base of operations for further expansion in North America. Products from both companies are expected to reach new customers from overlap in each of its pre-existing customer bases, and Giant Loops products will be offered through USWE’s global distribution network.
Armadillo Bag, LLC, a new automotive brand created by Giant Loop’s founder, is also included in the acquisition. Its focus on international overland travel provides new markets and sales channels for all three companies’ products.
Giant Loop was founded in 2008 by owner Harold Olaf Cecil. The company designs and manufactures a portfolio of products with dual-sport and adventure motorcycles as a primary focus and UTVs, snow bikes and snowmobiles representing crossover powersports markets. Product design and development and all other primary business functions are based in Bend, and production is outsourced to factories in the U.S. and Asia. Sales are generated through an omni-channel model, where the split between DTC and B2B is approximately fifty/fifty.
USWE Sport is known for its “No Bouncing Monkey” patented harness technology for performance backpacks developed for high-impact action sports, such as off-road motorcycling, mountain biking, trail running, skiing and snowmobiling.
Cecil will continue to lead the company for at least two years, focusing on the integration between USWE and Giant Loop. He will also be one of USWE´s largest shareholders.
“Giant Loop is a perfect partner for USWE in the USA,” said Jacob Westerberg, CEO, USWE Sports. “We started our companies in the same time period, and our founders met early in each company’s history. We share similar company values, as well as product design and development vision. Our two product lines also perfectly match each other, where USWE focuses on the rider and Giant Loop focuses on the bike gear. So far, Giant Loop has been developing soft luggage for off-road and adventure motorcycles. However, we see great potential in developing bags and luggage also for e-bikes, mountain bikes and gravel bikes. The barrier between a motorcycle and a bicycle is getting more and more blurry, and we would like to provide the best available gear for the new bikes and the new riders. Giant Loop headquarters are in Bend, Oregon, an ideal location for USWE and our focus for the coming years, whether it will be on the bike, on foot or on skis. Together, we have already identified several synergies in sales, distribution and manufacturing and we are looking forward to implementing and benefitting from them. I am convinced that this acquisition will massively strengthen both Giant Loop and USWE.”
”I am excited about the transaction with USWE Sports,” Cecil added. “For me, the acquisition represents the culmination of 15 years of my life’s work. The excellent fit of our markets, brands and business cultures truly compliments both companies’ strengths. We’ve used, sold and promoted USWE products ourselves for many years at Giant Loop already, and we look forward to collaborating with such an innovative, category-leading brand and company.”
