KSS Outdoor Holdings, LLC, Acquires Gregory Mountain Products

Veteran investors Kanders, Schiller and Simons to use Gregory as a platform for acquisition and integration in the outdoor market 


SACRAMENTO, Calif., April 8, 2008  /PRNewswire/ -- On March 26, 2008, KSS Outdoor Holdings, LLC (KSS) -- comprised of veteran investors Warren Kanders, Robert Schiller and John Simons -- purchased Gregory Mountain Products, the market leader in backpack technology for more than 30 years. Terms were not disclosed.

KSS Outdoor Holdings plans to grow Gregory organically and to establish the company as a platform for growth within the outdoor recreation industry, according to Schiller. KSS plans to identify, acquire and integrate top-tier niche brands within the industry which are consistent with the three investors' overall strategic vision and with Gregory's core values, he said. The group expects to pursue both buy-and-hold acquisitions and brands that integrate cohesively with Gregory.

Longtime partners Kanders and Schiller have successfully used this approach in other business ventures. Together, through 12 years and 50 acquisitions, the two men built Armor Holdings (formerly AH: NYSE), a global supplier of law enforcement and military safety equipment. They sold the company in 2007 for approximately $4.5 billion.

Simons has served as Gregory's president for the past two years. Previously, Simons served for six years as the president and CEO of Swift and Company -- one of the country's most well-known food-industry corporations -- where he oversaw the company's $10 billion operations. Simons will continue in his role as president of Gregory.

KSS Outdoor Holdings has opted to pursue a growth strategy within the outdoor industry because the Gregory purchase offered the opportunity to acquire a clean, authentic brand, and because it finds the outdoor business compelling from a long-term investment perspective.  KSS believes it can capitalize on a long-term global trend of people pursuing healthier, more active lifestyles.

The acquisition comes at the height of Gregory's 30-year history. The brand has recently introduced several award-winning backpack series, earning awards and acclaim from Backpacker magazine, National Geographic Adventure, and Popular Science. Popular Science named one of Gregory's backpack suspension systems a 'Best of 2006' award-winner for technological innovation in the recreation category.

About Gregory Mountain Products

Celebrating its 30th anniversary in 2007, Gregory Mountain Products has been the longtime leader in expedition, backpacking and day packs. Gregory is world-renowned for setting durability, comfort and performance standard in backpacks. In recent years, Gregory won awards for its pack designs from such diverse media outlets as Backpacker Magazine, Popular Science, National Geographic Adventure, Consumers Digest and Alpinist Magazine. Responsible for many industry firsts in backpacking fit and design, the Gregory research and design team, including company founder Wayne Gregory, continues to lead the way in innovative backpack technology and performance. In March 2008, Gregory relocated its headquarters from Temecula, Calif., to Sacramento, Calif. 

KSS Outdoor Holdings, LLC; Gregory Mountain Products