Thule Group acquires Tepui Outdoors
First come roof racks, then comes the roof top tent.
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To mount a rooftop tent, first you need roof racks.
One of the leading roof rack makers, Thule Group, announced today the $9.5 million acquisition of one of the leading roof top tent makers, Tepui Outdoors.
The overlanding category is a budding gear genre, as the line between human-powered and engine-powered adventure blurs.
“Roof Top Tents offer consumers a great way to utilize their existing cars for self-reliant overnight travel to remote destinations, where the journey is the principal goal,” Thule Group President and CEO Magnus Welander said in a news release. “The overlanding category has been growing steadily over the last few years and we are very pleased to add this great assortment of high-quality Roof Top Tents and accessories to our broad portfolio of products that cater to consumers who enjoy living an active life.”
Welander continued: “The synergies between the Thule brand’s market leading expertise for transport solutions on the car and Tepui Roof Top Tents exist in both consumer marketing and in the supply chain. When combined with the mutual philosophies on high quality, smart engineering and great design, as well as a shared passion for the outdoors, Tepui is a natural fit to our portfolio.”
Tepui Outdoors Inc. was founded in 2010 by Evan and Gabriela Currid. The 20-person company is based out of Santa Cruz, California, and led by Evan Currid, who will continue to manage the product category within Thule Group. Tepui’s net sales for 2018 is expected to be about $6.5 million.
Thule Group was established in 1942 in Sweden. Today, the company is known for roof racks, roof boxes, all types of carriers, RV products, and luggage. The company has about 2,000 employees at nine product facilities and 35 sales offices worldwide.
If Thule Group wasn’t regarded as being in the roof top tent category before, it is now.
