ATLANTA — Ski and apparel performance company Spyder Active Sports, Inc. has acquired Cloudveil Mountain Works for an undisclosed amount.
Under the agreement, Cloudveil, which produces innovative technical outdoor and mountaineering apparel, will remain a separate entity and operate as a wholly-owned, independent division of Spyder. Cloudveil’s founders, president Brian Cousins and vice-president Stephen Sullivan have signed multi-year contracts to continue in their respective roles within the new organization.
Jake Jacobs, president of Spyder, said the acquisition represents a key growth strategy for Spyder to penetrate the larger global outdoor sports and recreation category with a core authentic outdoor brand. It also gives Spyder the opportunity to address key product line expansion and global retail channel diversification goals beyond ski specialty.
“The Cloudveil team has done an amazing job of creating an authentic outdoor brand,” Jacobs said. “They live and breathe the outdoor mountain ifestyle and are all hardcore users of the product. That type of passion and performance is evident in every product they make.”
Cloudveil’s principal offices and flagship retail store will remain in Jackson Hole, Wyo., and the in-house team and independent sales force will remain intact to form a foundation for near and future expansion.
Sports Brands International (SBI) acquired Cloudveil in January 2005 when SBI also owned Fila and Motionwear brands. But when SBI sold Fila in early 2007 to Fila Korea Ltd, shortly after Fila Korea’s management buyout, Cloudveil was without a strategic athletic brand partner with global sourcing and supply chain infrastructure in place. Spyder, which is based in Boulder, Colo., represented the best strategic fit to support short- and long-term growth of the brand, both companies said.
“Cloudveil’s position in the outdoor market supports our strategy to build a year-round business, develop retail channels outside of specialty ski, and own the mountain via multiple sports,” Jacobs said. “We’ll leverage our infrastructure with Cloudveil’s strengths to build both brands.”
Cousins added that Spyder will bring to Cloudveil significant expertise in global sourcing and supply chain logistics, as well as opening new distribution opportunities.
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