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Spyder Active buys Cloudveil Mountain Works
06 Feb '08
2 min read
Ski and performance apparel leader Spyder Active Sports Inc announced its acquisition of Cloudveil Mountain Works Inc producers of innovative technical outdoor and mountaineering apparel. Terms of the agreement were not disclosed.
Cloudveil will remain a separate brand entity and operate as a wholly owned, independent division of Spyder Active Sports. Cloudveil's founders, President Brian Cousins and Vice President Stephen Sullivan have signed multi-year contracts to continue in their respective roles within the new organization.
According to Spyder President and CEO Jake Jacobs, the acquisition represents a key growth strategy for Spyder, to penetrate the larger global outdoor sports and recreation category with a core authentic outdoor brand.
It also gives Spyder the opportunity to address product line expansion and global retail channel diversification goals beyond ski. "The Cloudveil team has done an amazing job of creating an authentic outdoor brand.
They live and breathe the outdoor mountain lifestyle and are all hardcore users of the product. That type of passion and performance is evident in every product they make. I can relate to that as the Spyder brand was also built with that type of passion for the product," Jacobs said.
"Being in the snowsports and outdoor categories with authentic, premium performance brands represent a key growth platform for our company in the long term.
Cloudveil's position in the outdoor market supports our strategy to build a year-round business, develop retail channels outside of specialty ski, and own the mountain via multiple sports. We'll leverage our infrastructure with Cloudveil's strengths to build both brands," he added.
Cloudveil will remain a separate brand entity and operate as a wholly owned, independent division of Spyder Active Sports. Cloudveil's founders, President Brian Cousins and Vice President Stephen Sullivan have signed multi-year contracts to continue in their respective roles within the new organization.
According to Spyder President and CEO Jake Jacobs, the acquisition represents a key growth strategy for Spyder, to penetrate the larger global outdoor sports and recreation category with a core authentic outdoor brand.
It also gives Spyder the opportunity to address product line expansion and global retail channel diversification goals beyond ski. "The Cloudveil team has done an amazing job of creating an authentic outdoor brand.
They live and breathe the outdoor mountain lifestyle and are all hardcore users of the product. That type of passion and performance is evident in every product they make. I can relate to that as the Spyder brand was also built with that type of passion for the product," Jacobs said.
"Being in the snowsports and outdoor categories with authentic, premium performance brands represent a key growth platform for our company in the long term.
Cloudveil's position in the outdoor market supports our strategy to build a year-round business, develop retail channels outside of specialty ski, and own the mountain via multiple sports. We'll leverage our infrastructure with Cloudveil's strengths to build both brands," he added.
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