Clarus Corp., parent company of Black Diamond, Sierra, and other outdoor brands, has acquired Australia-based TRED Outdoors, which makes products across the following segments: offroad, 4×4 automotive touring, camping and caravans (campers).
According to a news release, the transaction includes a combination of cash, stock, and future consideration based on TRED’s performance. TRED, which stands for Totally Reliable Explorer Driven, will continue to operate independently as a wholly-owned indirect subsidiary of Clarus and will be part of the company’s adventure segment.
“This transaction highlights our continued focus on identifying sought-after brands within the adventure segment that both enhance our offering to existing retail customers and expand our reach into new and larger channels,” said Warren Kanders, executive chairman of Clarus, in a release. “The acquisition is expected to be immediately accretive to earnings.”
Terms of the transaction were not disclosed. Clarus acquired TRED from Venlo Holdings.
TRED was founded in 2012 and does most of its business in Australia, with a growing export market including Canada, the Middle East, New Zealand, South Africa, and the U.S.
“We are excited to partner with Chris Roberts and the TRED team to seek to accelerate the brand’s growth by expanding into global markets and through investing in TRED’s exciting new product pipeline,” said Mathew Hayward, managing director of Clarus’ Adventure segment. “TRED’s foundation is its relentless focus on customer relationships, which we will continue to foster under Clarus’ ownership.”
Hayward added that Clarus is looking to grow its portfolio and deepen relationships with key partners globally.
“As part of the Clarus portfolio of incredible brands, TRED is now poised to become a global powerhouse, while remaining a proudly Australian-made product, supported by the same team behind the brand for more than a decade,” said Ty Hermans, managing director of Venlo Holdings. “We are excited about the next phase in the journey and a strong and enduring partnership supporting product development and ongoing manufacturing from our Brisbane factory, in service to TRED and the broader Clarus portfolio for many years to come.”
In August, Clarus reported sales for the quarter dropped 27% to $83.7 million. Sales in its outdoor segment were down 22.8% to $40.6 million on a constant-currency basis for the quarter.
“We believe that we have reached the trough in our outdoor and adventure segments,” Kanders said at the time.
