Vista Outdoor is acquiring two companies to expand its already giant repertoire of hunting and sports gear and equipment, the company announced Wednesday.
Anoka, Minnesota-based Vista Outdoor is acquiring the hunting athletic-wear brand, Venor, which focuses on clothing for women, according to a Wednesday morning announcement. The company will also take ownership of electric bike company QuietCat, which designs and manufactures e-bikes meant for outdoor sports, such as camping, hunting and fishing.
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Venor is also a Minnesota-based company and was founded five years ago, Vista said. Venor’s apparel is 100% made in America and the name is Latin for “I hunt.” Founder Angela Erickson wrote on her website that she had trouble finding “hunt-inspired fashion” for women that didn’t look generally the same.
“Let’s be honest: Unless you’re into giant logos, camo patterns or the color pink, there just wasn’t a lot of original hunt-inspired fashion you could wear and not look like you just climbed out of a treestand,” she wrote on the company’s website. “Thing is, way back when, people wore nice clothes to hunt and fish. Why not now?”
As for QuietCat, the company is based in Eagle, Colorado and was co-founded by twin brothers, Jake and Justin Roach. The acquisition comes at a time when the e-bike market is one of the “fastest growing” in the industry, Vista said.
E-bike sales soared 145% in 2020, the company said.
Vista’s latest acquisition expands its ownership of 34 outdoor recreation and sports brands, including CamelBak, Remington and Bushnell.
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Earlier this month, it reported $67 million in fiscal fourth-quarter net income and a $1.11-per share profit. Fourth-quarter sales jumped 40%.
When the company released its quarterly results, CEO Chris Metz said 2021 “promises to be a year where people continue to recreate and enjoy the outdoors.”
Metz continued: “We enter this year with our highest level of cash flow, our lowest level of debt in years, a powerhouse of outdoor brands, an expanded addressable market, record numbers of passionate advocates for our products, and an expanded commitment to preserve and protect our planet as we bring people outside.”