SALT LAKE CITY (BRAIN) — Rhino-Rack, a division of Clarus Corporation has acquired Colorado's RockyMounts, which specializes in bike racks and accessories.
Clarus Corporation owns the outdoor brands Black Diamond and Pieps as well as the MAXTRAX and TRED Outdoors overlanding brands. Clarus, traded on Nasdaq under the CLAR symbol, had 2023 fiscal year revenues of $286 million.
RockyMounts was founded by Bobby Noyes in Boulder, Colorado, in 1993, and moved to Grand Junction, Colorado, a few years ago.
"This acquisition underscores our continued focus on investing proactively to strengthen our Adventure portfolio," said Warren Kanders, Clarus' Executive Chairman. "We previously stated that we would be seeking complementary product add-ons, and we could not be more pleased to have completed the transaction with the RockyMounts team. In line with our established strategic roadmap, we've identified bicycle racks as a critical product category, and RockyMounts will enable us to seek to expand our addressable market to reach the broader bike rack and hitch-based products market. Importantly, we believe that adding RockyMounts will add immediate scale and help accelerate our brand penetration in the U.S., as well as provide an entry point to serve a new product category in Rhino-Rack's home market of Australia."
Mathew Hayward, Managing Director of Clarus' Adventure segment, said, "With an enthusiast consumer base and innovative product offering, RockyMounts is an ideal acquisition for Rhino-Rack, and we are excited to add them to our family of brands. As we integrate the business into our facility in Colorado, we look forward to continuing to collaborate with founder Bobby Noyes, a bike rack pioneer, who will stay on as a critical member of the innovation team moving forward."
The company did not release terms of the transaction, which it said was funded using cash on hand.
