Quebec, Canada-based Pelican Worldwide, Inc. introduced at this time that it acquired a majority stake in GSI Outdoor. In line with the corporate, it can function the brand new acquisition as a standalone enterprise.
Pelican Worldwide at this time added one other portfolio merchandise to its rising quiver of outside manufacturers. The Canadian firm principally owned paddling and fishing manufacturers earlier than buying a majority stake in camp cookware-focused GSI Outdoor.
“The acquisition of GSI Outdoor, our third since 2019, permits us to pursue our ambition to be an eco-friendly chief within the out of doors gear sector by investing in a portfolio of famend manufacturers that reply to the rising want of the inhabitants to attach extra with nature,” mentioned Danick Lavoie, President and CEO of Pelican Worldwide.
“Whereas our final acquisitions consolidated our main place within the paddle sports activities, fishing boats, and nautical equipment sector, the combination of GSI Outdoor into our fold permits us to diversify our actions and makes a outstanding entry right into a sector that has proven sustained progress for a number of years which is predicted to be maintained for the years to come back.”
Pelican, a 50-year-old, family-owned agency, mentioned the acquisition permits it to offer its buyer base extra choices — now outfitting them each within the water and across the picnic desk. For Washington-based GSI, it quantities to a possibility to broaden by means of leveraging Pelican’s assets.
Per the settlement phrases, the GSI administration staff, together with co-founders/co-presidents Don Scott and Ian Scott, will keep in place.
“It was our love of the outside and our want to offer high quality merchandise that motivated us to discovered GSI Outdoor in 1985. Right this moment, our dedication stays the identical, and in Pelican Worldwide, we’ve discovered the right accomplice to take the corporate to the subsequent stage,” mentioned Don, Ian, and Kathy Scott (additionally a co-founder).
Pelican Worldwide at present owns three manufacturing websites in North America, supporting manufacturers like Mad River Canoe, Wilderness Programs, and Dagger.
As long as GSI Outdoor retains making our favourite camp mug, we’re A-OK with it.