Windsong Brands Acquires Cloudveil From Spyder
Spyder Active Sports, Inc. sold its ownership of Cloudveil Mountain Works to Windsong Brands LLC of Westport, CT. The transition of ownership is effective February 16. All intellectual property and assets are part of the acquisition deal. Financial terms of the agreement were not disclosed.
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(Boulder, CO and Westport, CT) – Spyder Active Sports, Inc. sold its ownership of Cloudveil Mountain Works to Windsong Brands LLC of Westport, CT. The transition of ownership is effective February 16. All intellectual property and assets are part of the acquisition deal. Financial terms of the agreement were not disclosed.
To facilitate a smooth transition for Cloudveil’s existing dealer base, Spyder will manage the backend support, shipping, and customer service aspects of the Spring 2010 season. “We want to maintain continuity of service and brand integrity through this sale,” noted Spyder CEO Tom McGann. “Cloudveil is a dedicated mountain lifestyle brand with a passionate consumer base. We wish to ensure Cloudveil retailers that the brand and its daily operations are passed off smoothly to the Windsong Brands team,” he said.
Bill Sweedler, Windsong Brands CEO added, “Cloudveil, with its mountain culture, is a unique and truly authentic American brand that resonates with the core outdoor consumer. We look forward to remaining true to this consumer and through our efforts, developing and expanding the presence of Cloudveil in premium retail channels. Our new board, which includes core outdoor industry executives, has chosen Jim Reilly, an investor, along with Windsong, to lead the company moving forward.”
Reilly comes to Cloudveil Mountain Peak, LLC with years of outdoor and sporting goods experience, including serving as CEO of Cloudveil, COO of The North Face and executive positions with adidas and Nike. Jim will be responsible for ensuring that Cloudveil stays true to its roots and guides the brand using a new business model with this fresh start.
“Windsong Brands is the perfect fit for this company,” commented Jim Reilly, the new president of Cloudveil Mountain Peak, LLC. “Windsong knows the space and has significant experience in growing consumer brands. I am confident that we form a great team who has deep industry experience and that we can take Cloudveil to the next level of consumer awareness and brand recognition.” Speaking about the future, Reilly added, “Cloudveil has developed a worldwide presence and we will immediately be reaching out to our consumers, retail customers and all potential international partners to assure a bright future for the Cloudveil brand.”
Spyder acquired Cloudveil in early 2008 and was managed as a separate brand entity, operating as a wholly owned, independent division of Spyder. McGann stated that the divestiture allows the company to focus all its resources on Spyder brand growth while Cloudveil benefits from the sale to an experienced private investment company that is focused exclusively on building world-class, consumer branded businesses.
About Cloudveil
Founded in 1997, Cloudveil creates innovative and functional apparel for the outdoor, snowsports, fly fishing, and lifestyle apparel markets. Designed and tested in the rugged mountains and rivers surrounding Jackson Hole, Wyoming, Cloudveil utilizes the most progressive technical fabrics on the market matching the end user with the ideal combination of protection, mobility, and comfort no matter what the conditions may be. For more information, go to www.cloudveil.com.
About Spyder Active Sports
Spyder revolutionized ski apparel in 1978 with a padded slalom sweater designed “for racing, by racers.” Spyder products continue to dominate the race circuit and are the choice of the US Alpine, Canadian Alpine, and Jamaican World Cup Ski Teams. Renowned for progressing on-snow innovation and style, Spyder is the world’s leading skiwear and mountain-based apparel brand. Based in Boulder, Colorado, Spyder is distributed in over 50 countries worldwide.
About Windsong Brands
Windsong Brands, LLC (www.windsongbrands.com) is private investment firm that focuses on leading middle-market consumer companies that own strong recognizable brands. The team has a diverse background of consumer expertise that assists and guides company management to unlock the true potential of their brand. Windsong Brands makes majority and minority investments in both public and private companies.
Investments and portfolio brand companies include Atlantis Weathergear, Ellen Tracy, Caribbean Joe, Joe’s Jeans, Field & Stream, The Sharper Image, Carlos Falchi, Design Within Reach, and Como Sport.
