The absolute tidal wave of consolidation news rolls on. Is there an end in sight?
First was the announcement about K2 and Morrow, then K2 and Ride. Then there was news of the Jaysport purchase of Type A, Atlantis, and Division 23.
According to Jaysport President Jay Joffe, he isn’t done. “I’m working on something else that will be front-page news on your magazine,” says Joffe. “I think you’ll see in the coming week that Jamie Salter isn’t the only person in the snowboarding industry with deep pockets.”(Look for more information on that story in the Volume Eleven, Number Two issue of SNOWboarding Business.)
But the big news today is that Jamie Salter’s company Gen-X Equipment Inc., located in Toronto, Canada, has acquired the Limited snowboard brand from Colorado-based Volant.
“Limited is a high-quality, high-end brand,” says Corrine Griffiths, the vice president of the Action Sport Division in a press release “We are committed to maintain the high standards of this product and are very excited about the opportunity to expand our customer base.”
“The acquisition of Limited is consistent with out multi-brand strategy,” says Kenny Finkelstein, president of Gen-X. “We believe that this strategy will allow us to position our brands properly and therefore maximize margins for our retailers and distributors.”
According to Stephan Hienzsch, vp of sales and marketing of Volant Sports, “The sale of Limited Snowboards to Gen-X Equipment will allow us to concentrate on our core ski business and to devote our resources to building and even stronger position within the ski industry.”
According to the press release, Limited Snowboards will ensure that the balance of any outstanding orders for the ’99/00 season are fulfilled and all operations will be handled from the Gen-X head office in Toronto.
Limited founder Perry Gladstone left Volant earlier this summer and has returned to Toronto, his previous home. Volant acquired Limited in July of last year.