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Dec 30|Thule

Thule Group expands its growing Outdoor and Adventure Camping category with Fly Fishing Rod Vaults via the acquisition of the leading North American player Denver Outfitters.

Thule Group is pleased to announce the acquisition of Denver Outfitters, the leading player in Roof Rack mounted Fly Fishing Rod Vaults in North America. The acquisition broadens an expanding portfolio of products focused on an active lifestyle in the Adventure Camping segment, following the category additions of Roof Top Tents and Van Awnings for the North American market in recent years.

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.

For North American market inquiries, please contact:
Chris Ritchie
PR & Communications Manager, Region Americas
Phone: 617 435 2014

For Thule Group corporate inquiries, please contact:
Fredrik Erlandsson
SVP Communications and Investor Relations
Tel: +46 70 309 00 21

About Thule Group
Thule Group is world leader in products that make it easy to bring along the things you care for – easily, securely and in style – when living an active life. Under the motto Active Life, Simplified. we offer products within Sport&Cargo Carriers (roof racks, roof boxes and carriers for transporting cycling, water and winter equipment by car), Packs, Bags & Luggage (e.g. computer and camera bags, luggage and hiking backpacks), RV Products (awnings, bike carriers and tents for motorhomes and caravans) and Active with Kids (bike trailers, strollers and child bike seats). Thule Group has approximately 2,300 employees at 9 production facilities and 35 sales offices worldwide. Its products are sold in more than 140 markets and sales in 2018 amounted to SEK 6,5 billion.

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