Camelbak is the latest brand acquisition to add to 2015's growing list.
Vista Outdoor, a designer, manufacturer and marketer in the outdoor sport and recreation market, has purchased the brand for $412.5 million (approximately £264.6 million).
Founded in 1989 and headquartered in California, Camelbak produces hydration packs, bottles and purification and filtration systems. It has around 300 employees who will be integrated into the Outdoor Produts segment of Vista Outdoor, according to a press statement.
Management expects calendar year 2015 net sales for CamelBak to reach around $160 million (approx £102.6 million). The purchase price includes an approximate net present value of $35 million in future tax benefits associated with the deductibility of intangibles from a prior acquisition of CamelBak.
"The acquisition of CamelBak greatly advances Vista Outdoor's strategy to grow and strengthen our leading position in the outdoor recreation industry," said Mark DeYoung, Vista Outdoor Chairman and CEO.
"CamelBak fortifies our presence in the mainstream individual outdoor recreation market, creating an opportunity to increase the scale, reach and growth of several current offerings through an expanded global sourcing capability and a broadened retail distribution network. With limited overlap between our key customers, this acquisition creates significant cross-selling opportunities, increased channel presence and access into expanded domestic and international markets. As a market leader and preferred partner, Vista Outdoor can leverage the technical expertise of CamelBak to deliver innovative solutions and quality product offerings that will create value for our shareholders and customers."
Sally McCoy, CamelBak CEO, added: "CamelBak is enthusiastic about the opportunity to join the Vista Outdoor family of brands. Their successful platform will accelerate CamelBak's growth as a global brand. Vista Outdoor supports our mission to continue to reinvent the way people hydrate and perform through innovative hydration products."
In the cycle world, Vista already owns Bolle eyewear.