Johnson Outdoors Inc. (Nasdaq: JOUT), a leading global outdoor recreation company, today announced the sale of the Lendal® brand and all of its assets to Celtic Paddles LTD, owned and operated by Nigel Dennis, renowned sea kayak adventurer and designer. The deal was signed and closed on May 6, 2010.
In 2009, Johnson Outdoors launched a comprehensive initiative to significantly reduce cost and complexity, optimize synergies and assets and dramatically improve profitability of its Watercraft unit. In addition to restructuring and operational consolidation, the Company aligned R&D, sales and marketing efforts behind a more focused, more profitable line-up of paddle sport products.
“Johnson Outdoors has earned a reputation as one of the world’s premier recreational paddle sports companies. This transaction reinforces our commitment to focus resources on bringing forward new products that strengthen our core brand equities and grow our customers’ business. The Lendal brand of paddles is well-suited to the Nigel Dennis portfolio, and marks a return to its roots as a respected U.K. brand,” said Kelly Grindle, Senior Group Vice president, Marine Electronics and Watercraft for Johnson outdoors.
JOHNSON OUTDOORS is a leading global outdoor recreation company that turns ideas into adventure with innovative, top-quality products. The company designs, manufactures and markets a portfolio of winning, consumer-preferred brands across four categories: Watercraft, Marine Electronics, Diving and Outdoor Equipment. Johnson Outdoors' familiar brands include, among others: Old Town® canoes and kayaks; Ocean Kayak™ and Necky® kayaks; Carlisle® paddles; Extrasport® personal flotation devices (PFDs); Minn Kota® motors; Cannon® downriggers; Humminbird® fishfinders; Geonav® marine electronics; SCUBAPRO® UWATEC® and SubGear® dive equipment; Silva® compasses; Tech4O® digital instruments; and Eureka!® tents.
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Johnson Outdoors Announces Divestiture of Lendal
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May 06, 2010