Salomon, the �Freedom Action Sports� unit of adidas-Salomon, announced today that a contract to acquire Canadian outdoor specialist Arc'teryx Equipment Inc. has been signed. Through this transaction Salomon expects to expand its presence in the fast-growing new sports and outdoor categories. Financial terms of the agreement will not be disclosed.
Salomon's mission is to provide cutting-edge products for the sports that are based on unrestricted sensation, style and adventure. In the years ahead apparel and footwear will lead the growth of Salomon. Salomon expects to expand and develop its presence in North America and its technical apparel business.
Vancouver-based Arc'teryx, founded in 1991, specializes in technical outerwear and layering systems, performance backpacks and climbing equipment. Arc'teryx posted sales of 18 million Euros in 2000.
�Arc'teryx provides outdoor enthusiasts and professionals with the highest performing and technically advanced equipment possible,� says Jean-Luc Diard, President of Salomon. �Arc'teryx has an excellent management team. We have full confidence in this team's ability to achieve significant growth for the Salomon and Arc'teryx brands.�
�We needed someone who agreed that pushing the limits of what is technically possible is the essence of our success and is committed to fueling that vision,� says Jeremy Guard, President of Arc'teryx. �With its historical focus on active sports and top performance, Salomon is a great partner to help us move forward.�