October 1, 2022


News Health and Tech

GSI Outdoor Acquired by Pelican Worldwide Paddle Sports activities Co.

Quebec, Canada-based Pelican Worldwide, Inc. introduced as we speak that it acquired a majority stake in GSI Outdoor. In line with the corporate, it would function the brand new acquisition as a standalone enterprise.

Pelican Worldwide as we speak added one other portfolio merchandise to its rising quiver of out of doors 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 outside tools sector by investing in a portfolio of famend manufacturers that reply to the rising need of the inhabitants to attach extra with nature,” stated 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 mixing of GSI Outdoor into our fold permits us to diversify our actions and makes a exceptional entry right into a sector that has proven sustained development for a number of years which is predicted to be maintained for the years to return.”

Pelican, a 50-year-old, family-owned agency, stated 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 develop by way of leveraging Pelican’s sources.

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Per the settlement phrases, the GSI administration staff, together with co-founders/co-presidents Don Scott and Ian Scott, will keep in place.

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“It was our love of the outside and our need to offer high quality merchandise that motivated us to discovered GSI Outdoor in 1985. At present, our dedication stays the identical, and in Pelican Worldwide, now we have discovered the right accomplice to take the corporate to the following degree,” stated Don, Ian, and Kathy Scott (additionally a co-founder).

Pelican Worldwide presently owns three manufacturing websites in North America, supporting manufacturers like Mad River Canoe, Wilderness Methods, and Dagger.

As long as GSI Outdoor retains making our favourite camp mug, we’re A-OK with it.