Thule Group Expands Growing Outdoor And Adventure Camping Category Via The Acquisition Of Denver Outfitters

Thule is the long-standing global market leader in enabling consumers to bring their outdoor gear to the trailhead, the mountain bike slope or the local lake. With the recent addition of Roof Top Tents and Van Awnings in the North American market, the portfolio of products that help consumers to live an active lifestyle outdoors has been broadened further. Now, with the addition of Roof Rack mounted Fly Fishing Rod Vaults we continue to grow the portfolio of solutions to help consumers bring the things they care for – easily, securely and in style.

“The recreational fishing category is a large global category in the outdoor industry, with close to 50 million participants in North America alone. Although fly fishing is the smallest fishing category, it is the fastest growing and anglers often travel and enjoy their fishing experience together. Therefore, being able to bring your fishing rods safely and easily is key for these consumers and the best way to do so is with Fishing Rod Vaults mounted on the roof racks on the car. The team at Denver Outfitters have developed market leading products and with the mutual philosophies on high quality, smart engineering and great design, as well as a shared passion for the outdoors, the products are a natural fit to our portfolio”, said Magnus Welander, CEO and President of the Thule Group.

Denver Outfitters had an annual revenue of less than 1 MUSD in 2019. The acquisition is not expected to have a material impact on results or financial status of Thule Group.