Clarus acquires Rhino Rack

Dave

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$198M

“Rhino-Rack, founded in 1992 by Rich Cropley in Sydney, Australia, makes a collection of roof racks and accessories it sells around the globe. In the 12 months ended March 31, the brand generated $90 million in revenue and $16.7 million of adjusted EBITDA. Clarus in 2020 posted revenue of $224 million, so Rhino-Rack, which will operate independently as a wholly owned, indirect subsidiary of Clarus, boosts the company’s top line by more than a third. Those interested can find more financial details on Clarus’ website.

But Walbrecht looked beyond the numbers in his pursuit of this deal. He instead focused on the fandom the brand garners at off-road events or on popular YouTube channels. He zeroed in on Rhino-Rack’s quality rather than quantity of products. He connected with the company’s owner and its brand ethos.

“You can’t just manufacture superfan brands because you like the term or you want to be one,” Walbrecht said. “Superfan brands come about a certain way. They’re founder led. They’re product centric. What we love about Rhino-Rack is exactly all that. Rich Cropley started this brand to make the best rack system for his world, which just happens to be Australia and the Outback.”

Cropley, who called Rhino-Rack a “go-to” brand that has been tested and proven in the rugged terrain of the Outback, said Clarus was the ideal home for the company’s next chapter. The holding company offers the right synergies for helping grow Rhino-Rack, and its new superfan portfolio mates are a perfect fit.

“As a family man and someone committed to running the business with a family-style culture, it was imperative to have a very close alignment with a partner company that lived and breathed the same ethos in the outdoor space,” Cropley told Outside Business Journal. “At Rhino-Rack, we have a passion for customers, we strive for operational excellence and, most importantly, a relentless drive for innovation. This can only be achieved with great leadership and a loyal and passionate team of staff. I saw these same qualities in Clarus.”

https://outsidebusinessjournal.com/...-deal-clarus-racks-up-another-superfan-brand/
 
$198M

“Rhino-Rack, founded in 1992 by Rich Cropley in Sydney, Australia, makes a collection of roof racks and accessories it sells around the globe. In the 12 months ended March 31, the brand generated $90 million in revenue and $16.7 million of adjusted EBITDA. Clarus in 2020 posted revenue of $224 million, so Rhino-Rack, which will operate independently as a wholly owned, indirect subsidiary of Clarus, boosts the company’s top line by more than a third. Those interested can find more financial details on Clarus’ website.

But Walbrecht looked beyond the numbers in his pursuit of this deal. He instead focused on the fandom the brand garners at off-road events or on popular YouTube channels. He zeroed in on Rhino-Rack’s quality rather than quantity of products. He connected with the company’s owner and its brand ethos.

“You can’t just manufacture superfan brands because you like the term or you want to be one,” Walbrecht said. “Superfan brands come about a certain way. They’re founder led. They’re product centric. What we love about Rhino-Rack is exactly all that. Rich Cropley started this brand to make the best rack system for his world, which just happens to be Australia and the Outback.”

Cropley, who called Rhino-Rack a “go-to” brand that has been tested and proven in the rugged terrain of the Outback, said Clarus was the ideal home for the company’s next chapter. The holding company offers the right synergies for helping grow Rhino-Rack, and its new superfan portfolio mates are a perfect fit.

“As a family man and someone committed to running the business with a family-style culture, it was imperative to have a very close alignment with a partner company that lived and breathed the same ethos in the outdoor space,” Cropley told Outside Business Journal. “At Rhino-Rack, we have a passion for customers, we strive for operational excellence and, most importantly, a relentless drive for innovation. This can only be achieved with great leadership and a loyal and passionate team of staff. I saw these same qualities in Clarus.”

https://outsidebusinessjournal.com/...-deal-clarus-racks-up-another-superfan-brand/
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The trend continues and expands in the world of outdoor recreation, fueled by new interest because of the pandemic. From that article, this additional interesting bit:
Those huge opportunities are primarily because of Covid, Walbrecht said. The pandemic has driven more people outside to embark not just on epic adventures but also what he calls microadventures—an overnight backpack, a weekend of mountain biking, a three-day paddling trip, a hike out the back door.​
“The market has just exploded,” Walbrecht said. “The Covid-driven rise in outdoor activities has made that even more apparent today. It has become the new escape.”​
A new escape, and a new landscape for existing adventurers, especially those of us who venture out on extended journeys around various continents.

It is going to be interesting to see how this all shakes out over time and how products are pushed and promoted; how that shapes outdoor recreation; and how land management practices respond, especially in already sensitive areas.

It behooves us all to promote what I've come to call low-impact land use and responsible recreation. I firmly believe that this forum and others can make a positive impact for generations on just that; low-impact land use and responsible recreation, by encouraging through a united approach in education and awareness how important it is to our future.
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The trend continues and expands in the world of outdoor recreation, fueled by new interest because of the pandemic. From that article, this additional interesting bit:
Those huge opportunities are primarily because of Covid, Walbrecht said. The pandemic has driven more people outside to embark not just on epic adventures but also what he calls microadventures—an overnight backpack, a weekend of mountain biking, a three-day paddling trip, a hike out the back door.​
“The market has just exploded,” Walbrecht said. “The Covid-driven rise in outdoor activities has made that even more apparent today. It has become the new escape.”​
A new escape, and a new landscape for existing adventurers, especially those of us who venture out on extended journeys around various continents.

It is going to be interesting to see how this all shakes out over time and how products are pushed and promoted; how that shapes outdoor recreation; and how land management practices respond, especially in already sensitive areas.

It behooves us all to promote what I've come to call low-impact land use and responsible recreation. I firmly believe that this forum and others can make a positive impact for generations on just that; low-impact land use and responsible recreation, by encouraging through a united approach in education and awareness how important it is to our future.
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An article showed up in my phone's newsfeed regarding a campsite in Stanton VA being sold. Large companies are moving into the campsite part of the industry as well.

In the article. The owner's sold theirs because of the change in the industry and changes in expectations of the customers. The dissatisfaction in how the industry is changing was expressed by the owner as one on the major reasons for selling. How the campsite industry is going through disneyfication which broadly describes the processes of stripping a real place or thing of its original character, and represent it in a sanitized format. To paraphrase this dissatisfaction.

People want cabins but the cabins are separated by just a few feet and have a faux log cabin siding. But there's a fire ring out front so it's camping. The difference between this and a Motel 6 is that the rooms are in their own building and cost more.

A campsite near the Stanton VA one in the article just sold for $17 million. It was purchased just a year earlier for $3 million.
 
Yeah. I read not too long ago that as of 2018 the farthest you can get from McDonald's in the lower 48 is 120 mi as the crow flies.

The McFarthest Spot

I need to pay that place a visit before it closes up with encroaching McDonalds.


That would be right about here.

https://www.google.com/maps/place/O...!3d42.2492709!4d-116.7468422?hl=en&authuser=0

Owyhee #1.jpg
Owyhee #2.jpg
 
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