Johnson Outdoors' Family of Leading Brands Grows; Company Acquires Cannon(R) and Bottomline(R) Marine Brands
October 03 2005 - 4:18PM
Business Wire
Johnson Outdoors Inc. (Nasdaq:JOUT) today announced it has added to
its portfolio of winning, outdoor recreational brands with
Cannon(R) downriggers and Bottomline(R) fishfinders. The brands and
assets were acquired in a cash purchase from Computrol of Boise,
Idaho, a wholly owned subsidiary of Armstrong International. The
deal, which closed on October 3, 2005, reinforces the Company's
strategic focus on acquisitions that complement its businesses,
have market-leading potential and strengthen profitability.
Cannon(R) and Bottomline(R) brands will be integrated into the
Company's existing Marine Electronics Group business unit which
includes the world-leading Minn Kota(R) brand of electric motors
and accessories, and Humminbird(R) brand fishfinders. The
acquisition is expected to be accretive to earnings in the first
full fiscal year of ownership (fiscal 2006). "Our vision is to own
the outdoor adventure, with a clear focus on growth by expanding
our markets, our brand equities and our technology horizon through
continuous innovation and targeted acquisitions," said Helen
Johnson-Leipold, Chairman and Chief Executive Officer, Johnson
Outdoors. "We invest in the future of our businesses, and by doing
so help increase profitability and enhance shareholder value
long-term." Cannon(R) is the #1 brand of downriggers used on
motorized boats for controlled depth fishing. Bottomline(R) is a
value brand of fishfinders which includes the popular portable,
battery-operated "Fishin' Buddy(R)" series. As a result of these
acquisitions, Johnson Outdoors now competes in five distinct marine
electronics segments that represent a $350 million marketplace
opportunity. The Sporting Goods Manufacturers Association reports
fishing is an outdoor recreational activity enjoyed by more than 50
million people in the U.S. In fiscal 2004, Johnson Outdoors' Marine
Electronics Group business unit reported record sales and profit.
Minn Kota(R) share in the U.S. has nearly doubled since fiscal
2000, and in September 2005, Ranger Boats named Minn Kota(R)
"Supplier of the Year" recognizing excellence in a number of
categories including innovation, quality, shipping performance,
customer service and value. Throughout fiscal 2005, Humminbird(R)
has experienced significant growth and further strengthened its
leadership position around the world. ABOUT JOHNSON OUTDOORS INC.
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(R) canoes and kayaks; Ocean Kayak(R); Necky(R) kayaks; Minn
Kota(R) motors; Humminbird(R) and Fishin' Buddy(R) fishfinders;
Cannon(R) downriggers; Scubapro(R) and UWATEC(R) dive equipment;
Silva(R) instruments; and, Eureka! (R) tents. The company has 24
locations around the world, employs 1,500 people and reported
annual sales of $355 million in 2004. Visit Johnson Outdoors online
at www.JohnsonOutdoors.com. SAFE HARBOR STATEMENT Certain matters
discussed in this press release are "forward-looking statements,"
intended to qualify for the safe harbors from liability established
by the Private Securities Litigation Reform Act of 1995. Statements
other than statements of historical fact are considered
forward-looking statements. Such forward-looking statements are
subject to certain risks and uncertainties, which could cause
actual results or outcomes to differ materially from those
currently anticipated. Factors that could affect actual results or
outcomes include changes in consumer spending patterns; the
Company's success in implementing its strategic plan, including its
focus on innovation; actions of companies that compete with the
Company; the Company's success in managing inventory; movements in
foreign currencies or interest rates; the success of suppliers and
customers; the ability of the Company to deploy its capital
successfully; adverse weather conditions; and other risks and
uncertainties identified in the Company's filings with the
Securities and Exchange Commission. Shareholders, potential
investors and other readers are urged to consider these factors in
evaluating the forward-looking statements and are cautioned not to
place undue reliance on such forward-looking statements. The
forward-looking statements included herein are only made as of the
date of this press release and the Company undertakes no obligation
to publicly update such forward-looking statements to reflect
subsequent events or circumstances.
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