who owns gsi outdoors?
LAVAL, QC, May 19, 2022 /CNW/ - Pelican International Inc, a world leader in paddle sports, acquires a majority stake in GSI Outdoors, a leader in the outdoor equipment industry. This transaction marks a major step in the growth of Pelican, which is building on a solid foundation to diversify its offering in the North American and international outdoor market.
"The acquisition of GSI Outdoors, our third since 2019, allows us to pursue our ambition to be an eco-friendly leader in the outdoor equipment sector by investing in a portfolio of renowned brands that respond to the growing desire of the population to connect more with nature. While our last acquisitions consolidated our leading position in the paddle sports, fishing boats and nautical accessories sector, the integration of GSI Outdoors into our fold allows us to diversify our activities and makes a remarkable entry into a sector that has shown sustained growth for several years which is expected to be maintained for the years to come," said Danick Lavoie, President and CEO of Pelican International.
Focus on growth and diversification
With a rich 50-year history, the Quebec-based family business has carved out a special place in the hearts of outdoor and water sports enthusiasts. Today, Pelican International has met its desire to expand its offer to nature lovers by getting out of the water and accompanying them around the picnic table thanks to another family business, GSI Outdoors, and its innovative camping equipment and accessories.
Based in Spokane, Washington, USA, GSI Outdoors has been designing and distributing quality outdoor cooking and hydration products for the outdoors for over 37 years.
"It was our love of the outdoors and our desire to provide quality products that motivated us to found GSI Outdoors in 1985. Today, our commitment remains the same and in Pelican International we have found the perfect partner to take the company to the next level," said Don, Ian, and Kathy Scott, co-founders. Ian and Don will remain at the helm of the company for the next cycle of growth for GSI Outdoors.
A booming sector
According to the North American Camping Report 2021, the growth prospects for the outdoor and camping market were excellent, long before the pandemic which has caused an unprecedented craze for outdoor activities and products. In 2021, the global market was estimated at US$ 15 billion and is expected to reach US$ 21 billion by 2026, boding well for steady demand for camping products in general.
"Pelican intends to quickly leverage the reputation, distribution channels as well as the supply and innovation capabilities of both companies to offer more to our retailers, and meet the expectations and aspirations of camping, fishing and paddling enthusiasts," concluded Pelican President and CEO Danick Lavoie.
As GSI Outdoors joins the Pelican Group of companies, the Laval-based company will now have more than 1,100 employees in North America, revenues in the hundreds of millions of dollars, and a portfolio of well-established companies and brands.
About Pelican International
Pelican International is a world leader within the paddle and nautical sports industry. Renowned for exceptional quality, innovation and expertise, Pelican has become the foremost global authority in the design and manufacture of kayaks, canoes, pedal boats, stand-up paddle boards (SUPs), fishing boats, and watersport accessories.
As an international driving force within the industry, Pelican and its group of companies offer to both paddle sports and everyday outdoor enthusiasts a diverse array of products through its portfolio of well-known brands: Pelican®, Wilderness Systems®, Perception®, Dagger®, Mad River Canoe®, Harmony Gear®, Advanced Elements, Adventure technology and Boardworks®.
Pelican International has three manufacturing sites in North America—this strategically located distribution footprint allows our clientele to easily procure kayaks, paddle boards and boats anywhere they choose to enjoy the water.
About GSI Outdoors
A small, family-owned company, GSI Outdoors makes hydration, cookware and dining products that bring the comfort of home cooking practices to the great outdoors. Since 1985, GSI Outdoors has produced innovative dining gear for use at the campsite, on the trail, and everywhere in between.
Pelican is advised by Reed Smith LLP as legal counsel.
GSI is advised by Deloitte Corporate Finance LLC as M&A advisors and Dentons served as legal counsel.
SOURCE Pelican International
DULUTH, Ga.--(BUSINESS WIRE)--Dec. 1, 2011-- AGCO, Your Agriculture Company (NYSE: AGCO), a worldwide manufacturer and distributor of agricultural equipment, today announced that it has completed the acquisition of GSI Holdings Corp. (GSI) from affiliates of New York-based Centerbridge Partners, L.P. for $928 million, net of cash acquired and subject to customary closing adjustments. This action follows recent regulatory clearance of the transaction. GSI is a leading global manufacturer of grain storage and protein production systems. Headquartered in Assumption, Illinois, GSI sells its products globally through more than 500 independent dealers.
“AGCO and GSI share a similar culture and commitment to superior agricultural products and service, and together, we will give our customers even greater access to technology to help them be more productive and profitable,” stated Martin Richenhagen, AGCO’s Chairman, President and Chief Executive Officer. “With its high quality products and services, recognized brands and global capabilities, GSI gives AGCO strong positions in the grain storage and protein production segments and is well-positioned to benefit from increases in global grain and food demand.”
“The integration of GSI into AGCO is a very positive step for our company’s future development and its employees, customers and dealers,” said Scott Clawson, President and Chief Executive Officer of GSI. “AGCO provides excellent prospects for GSI, given its global presence, which will open up new distribution and growth opportunities. At the same time, GSI’s industry-leading products and expertise in grain storage and protein production systems will also represent a major enrichment to AGCO’s plans for market expansion. “We are excited about continuing our success as part of the AGCO family.”
Effective today, Mr. Clawson is appointed Senior Vice President, AGCO and Chief Executive Officer of GSI, reporting directly to Mr. Richenhagen. “I am pleased to have Scott as a new member of our senior management team,” said Mr. Richenhagen. “Scott has a strong track record of success growing GSI’s revenue and profitability. I am confident he will be a valuable leader as we work together to deliver quality products to our customers and improved growth, profitability and value for our shareholders.” In his new role, Mr. Clawson will work closely with AGCO’s Regional General Managers to develop synergies and growth opportunities across the globe.
Prior to joining GSI in 2007, Mr. Clawson served as Chief Executive Officer of Ryko Enterprises, the largest manufacturer of vehicle wash systems in North America and the second largest worldwide. Between 1998 and 2003, he held various executive roles at Danaher Corporation and served as President of Gilbarco Veeder-Root, a $1 billion global leader in petroleum equipment and services.
Safe Harbor Statement
Statements which are not historical facts, including expectations regarding industry demand, product offerings, the impacts of integration, sales growth and market position, are forward-looking and subject to risks that could cause actual results to differ materially from those suggested by the statements. These risks include possible declines in demand for products as a result of weather, demand and other conditions that impact farm income, actions by producers of competitive products, and the general risks attendant to acquisitions. Further information concerning these and other factors is included in AGCO’s filings with the Securities and Exchange Commission, including its Form 10-K for the year ended December 31, 2010. AGCO disclaims any obligation to update any forward-looking statements except as required by law.
ABOUT AGCO
AGCO, Your Agriculture Company, (NYSE: AGCO), a Fortune 500 company, was founded in 1990 and offers a full product line of tractors, combines, hay tools, sprayers, forage equipment, tillage, implements, and related replacement parts. AGCO agricultural products are sold under the core brands of Challenger®, Fendt®, Massey Ferguson® and Valtra® and are distributed globally through 2,600 independent dealers and distributors in more than 140 countries worldwide. Retail financing is available through AGCO Finance for qualified purchasers. AGCO is headquartered in Duluth, GA, USA. In 2010, AGCO had net sales of $6.9 billion. http://www.AGCOcorp.com
ABOUT GSI
