Johnson Outdoors Acquires Jetboil(R), Inc.
November 14 2012 - 11:45AM
JOHNSON OUTDOORS INC. (Nasdaq:JOUT) today
announced it has closed on the purchase of Jetboil®, Inc., the
world's #1 brand of outdoor cooking systems. The acquisition is
expected to be accretive to earnings in the first fiscal year of
ownership. Details of the transaction will be included in the
Company's fiscal 2013 first quarter filings.
Jetboil®, founded by cousins and co-inventors Perry Dowst and
Dwight Aspinwall, emerged on the camping scene in 2004 with the
launch of the award-winning Personal Cooking System (PCS) powered
by proprietary FluxRing® technology. The PCS
ultra-efficient, lightweight design integrated a one liter pot,
wind protected burner and heat exchanger into a single, push-button
start unit that cut fuel use and cooking times in half compared to
other canister stoves. Since then, Jetboil® has
broadened its technology and product offering to become the
category leader in outdoor cooking systems and redefine consumer
expectations for convenience, safety and ease-of-use.
For more information, visit www.jetboil.com.
"Jetboil® is a perfect fit with Johnson Outdoors - a
premier brand known for pioneering innovation, outstanding quality
and customer service excellence which brings exciting new
technology and dimension to our camping and hiking product
offering. While we share many of the same consumers and
customers, both Johnson Outdoors and Jetboil® have unique channel
and geographic strength and expertise to further expand
distribution and fuel growth in all brands – Eureka! ®, Silva® and
Jetboil®. I am particularly excited by the opportunity to
deepen and broaden our collective presence in the Specialty class
of trade - the preferred channel for our targeted outdoor
enthusiasts - where Jetboil® is well-known, well-respected and
strong," said Helen Johnson-Leipold, Chairman and Chief Executive
Officer, Johnson Outdoors.
"I am pleased that Jetboil® will enter its next chapter of
growth within the Johnson Outdoors family of strong brands and
heritage within the outdoor industry. I am personally
gratified with what the Jetboil® brand and team have accomplished
over the past eight years, and look for significant new milestones
to come with the benefit of Johnson Outdoors' strong organizational
foundation," said Jetboil® co-founder and CEO, Perry Dowst, who
will transition to the role of Senior Advisor, supporting strategic
R&D and new products.
Jetboil® will become part of the Company's Outdoor Gear business
unit, which makes and markets the iconic Eureka!® and Silva®
brands, and continue to operate from its facility in Manchester,
New Hampshire.
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
Gear. Johnson Outdoors' familiar brands include, among
others: Old Town® canoes and kayaks; Ocean Kayak™ and
Necky® kayaks; Carlisle® paddles; Extrasport® personal
flotation devices; Minn Kota® motors; Cannon® downriggers;
Humminbird® marine electronics; LakeMaster® electronic
charts; SCUBAPRO® and SUBGEAR® dive equipment; Silva®
compasses; and Eureka!® tents. Visit us at
www.johnsonoutdoors.com.
ABOUT
JETBOIL®,
INC.
Since its inception in 2004, Jetboil's category leading cooking
systems have won numerous awards both inside and outside the
outdoor industry. The proprietary FluxRing® technology, at the
heart of Jetboil® cooking systems, defines efficiency, safety and
ease of use and its introduction revolutionized the outdoor cooking
category. Jetboil® is committed to simplifying and
personalizing outdoor cooking and fueling a world of
exploration. Jetboil® is the trusted and indispensable
companion of those who push the limits of their endurance and the
boundaries of their experience.
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. These statements may be identified by the use of
forward-looking words or phrases such as "anticipate,'' "believe,''
"could,'' "expect,'' "intend,'' "may,'' "planned,'' "potential,''
"should,'' "will,'' "would'' or the negative of those terms or
other words of similar meaning. 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 economic conditions,
consumer confidence levels and discretionary spending patterns in
key markets; the Company's continued success in implementing its
strategic plan, including its targeted sales growth platforms and
focus on innovation; litigation costs related to actions of and
disputes with third parties, including competitors; the Company's
continued success in working capital management and cost-structure
reductions; the Company's ongoing success in meeting financial
covenants in its credit agreements with lenders; risk of future
write-downs of goodwill or other intangible assets; ability of the
Company's customers to meet payment obligations; movements in
foreign currencies, interest rates and commodity costs; 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.
CONTACT: At Johnson Outdoors Inc.
Cynthia Georgeson
VP - Worldwide Communication
262-631-6600
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