Spyder Active Sports Acquires Cloudveil Mountain Works



    BOULDER, Colo. and JACKSON HOLE, Wyo., Feb. 5 /CNW/ -- Ski and
performance apparel leader Spyder Active Sports, Inc. announced its
acquisition of Cloudveil Mountain Works, Inc, producers of innovative
technical outdoor and mountaineering apparel.  Terms of the agreement were not
disclosed.
    Cloudveil will remain a separate brand entity and operate as a wholly
owned, independent division of Spyder Active Sports.  Cloudveil's founders,
President Brian Cousins and Vice President Stephen Sullivan have signed
multi-year contracts to continue in their respective roles within the new
organization.
    According to Spyder President and CEO Jake Jacobs, the acquisition
represents a key growth strategy for Spyder, to penetrate the larger global
outdoor sports and recreation category with a core authentic outdoor brand. It
also gives Spyder the opportunity to address product line expansion and global
retail channel diversification goals beyond ski.  "The Cloudveil team has done
an amazing job of creating an authentic outdoor brand.  They live and breathe
the outdoor mountain lifestyle and are all hardcore users of the product. 
That type of passion and performance is evident in every product they make.  I
can relate to that as the Spyder brand was also built with that type of
passion for the product," Jacobs said.  "Being in the snowsports and outdoor
categories with authentic, premium performance brands represent a key growth
platform for our company in the long term.  Cloudveil's position in the
outdoor market supports our strategy to build a year-round business, develop
retail channels outside of specialty ski, and own the mountain via multiple
sports.  We'll leverage our infrastructure with Cloudveil's strengths to build
both brands," he added.
    "Through the acquisition process we've been impressed with the strength
of the Spyder organization and management team, both Steve and I are energized
by the prospects of this new partnership," states Brian Cousins.  "Spyder will
bring to Cloudveil significant expertise in global sourcing and supply chain
logistics as well as opening new distribution opportunities, which should
significantly impact Cloudveil's already strong growth profile."
    Cloudveil's principal offices and flagship store will remain in Jackson,
Wyoming, with the in-house team and independent sales force remaining to form
foundation for near and future expansion.




For further information:

For further information: Laura Wisner of Spyder Active Sports, Inc., 
+1-303-544-4012, lwisner@spyder.com; or Greg Williams of Backbone Media, LLC, 
+1-970-963-4873, greg@backbonemedia.net

Organization Profile

SPYDER ACTIVE SPORTS, INC.

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