K2 Sports acquires Backcountry Access
Last Updated: 16:27 January 8, 2013
Beth Potter :
Financial terms of the deal were not disclosed.
The two companies are "a perfect match" for each other as K2 gets ready to introduce a new line of all terrain ski boots and splitboards to the backcountry market, Bruce Edgerly, co-founder of Backcountry Access, said in a press statement.
"We're completely stoked to be affiliated with K2, an icon of North American skiing and riding, with a huge legacy of pioneering innovative products and defining North American ski culture," Edgerly said.
The BCA brand will continue to thrive and the company's 34 people or so will remain in Boulder, Edgerly said. Once the sale is complete, Backcountry expects to focus on things like product development and marketing and to take advantage of K2's expertise in finance, accounting and logistics.
Backcountry Access was founded by Edgerly and Bruce "Bruno" McGowan in 1994. The company reported more than $7 million in sales in 2010 from a variety of avalanche-search tools. Its signature product is the Float 30 Avalanche Airbag, a backpacklike device designed to help avalanche victims stay near the top of a snow slide, where they potentially can be extracted by rescuers more quickly.
K2 Sports is held by Jarden Corp. (NYSE: JAH).
More breaking news...
OIA likes proposed budget for public lands
Boulder Brands outlines 2014 for investors
TekDry attracts cash to save wet cellphones
Fresh off of a glowing 2013 earnings report that showed profit had more than doubled
According to a document filed with the