RACINE, Wis., June 20, 2017 (GLOBE NEWSWIRE) -- Johnson Outdoors Inc. (Nasdaq:JOUT), a leading outdoor recreation equipment company, announced today that in cooperation with Silva Sweden AB the two companies have come to terms for Silva Sweden AB to acquire the Silva trademark rights in North America. This transaction will provide Silva Sweden with the global trademark rights to the Silva brand. The two companies have signed a transfer agreement with the intent to close the sale on January 4, 2018.
"We are happy that Silva Sweden is now able to have a global brand," said Bill Kelly, Group Vice President at Johnson Outdoors. "With their strong position in performance compasses and a broad assortment of additional products, they are well positioned to grow the global business and ensure that the Silva brand thrives moving forward."
For the remainder of 2017, Johnson Outdoors will continue to service the North American market. Effective immediately, Silva Sweden AB will begin the sell-in process for 2018. Silva Sweden AB will partner with Liberty Mountain Sports as the exclusive distributor in the United
States and with Rock Gear Distribution in Canada.
"We are excited to acquire the North American trademark rights to the Silva brand," said Richard Jägrud, CEO of Silva Sweden AB. "The transaction allows Silva to sharpen its focus on growing our core capabilities, accelerating growth and offering greater support to a global network of Silva dealers."
ABOUT JOHNSON OUTDOORS INC.
JOHNSON OUTDOORS is a leading global outdoor recreation company that inspires more people to experience the awe of the great outdoors with innovative, top-quality products. The company designs, manufactures and markets a portfolio of winning, consumer-preferred brands across four categories: Watercraft Recreation, Fishing, Diving and Camping.
Johnson Outdoors' iconic brands include: Old Town® canoes and kayaks; Ocean Kayak™ and Necky® kayaks; Carlisle® paddles; Extrasport® personal flotation devices; Minn Kota® fishing motors, batteries and anchors; Cannon®downriggers; Humminbird® marine electronics and charts; SCUBAPRO® dive equipment; Jetboil® outdoor cooking systems; Eureka!® camping and hiking equipment. Visit Johnson Outdoors at http://www.johnsonoutdoors.com
ABOUT SILVA SWEDEN AB
SILVA SWEDEN AB
has developed and sold high-quality outdoor gear, including headlamps and compasses, since 1933. The products are renowned for their innovative design and outstanding technical functionality. All products are developed in Sweden and tested in the harsh Nordic environment and weather conditions. Silva is owned by Karnell since 2011. Karnell is an investment company that manages institutional capital by investing in small and medium-sized unlisted Nordic companies. Karnell is an active and long-term owner that develop their portfolio companies together with corporate executive teams. Read more about Silva at www.silva.se and Karnell at www.karnell.se
AT JOHNSON OUTDOORS INC.DAVID JOHNSON
VP & CHIEF FINANCIAL OFFICER
VP - GLOBAL MARKETING SERVICES & COMMUNICATION
Source: Johnson Outdoors Inc.
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