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YETI® Acquires MYSTERY RANCH®

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YETI Holdings, Inc. announces the acquisition of MYSTERY RANCH, a premier designer and manufacturer of durable load-bearing backpacks, bags, and pack accessories. The acquisition aligns with YETI's commitment to innovation and quality, bringing together two brands known for their durability and performance in outdoor gear. YETI's President & CEO, Matt Reintjes, and MYSTERY RANCH's Co-Founder, Dana Gleason, express excitement about the partnership and the potential for growth. The acquisition marks a significant step for YETI in expanding its product offerings and capturing a broader market share.
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The acquisition of MYSTERY RANCH by YETI Holdings represents a strategic expansion in the outdoor gear market. The integration of MYSTERY RANCH's high-performance backpacks into YETI's product portfolio may enhance the company's market share and brand positioning. It's important to note that such acquisitions can result in increased economies of scale and potentially lead to improved profit margins due to streamlined operations and shared resources.

From a market research perspective, the synergy between YETI's existing product line and MYSTERY RANCH's specialized backpacks could cater to a broader consumer base, appealing to both extreme outdoor enthusiasts and casual users. This move may also signal YETI's intention to diversify its offerings and reduce reliance on its core products, thereby mitigating market risks associated with changing consumer preferences.

Financially, the acquisition could have significant implications for YETI's balance sheet and income statement. The initial investment and subsequent integration costs must be weighed against the long-term revenue growth and cost-saving potentials. Investors should monitor the impact on YETI's cash flow and debt levels, as well as any changes in their financial guidance post-acquisition.

Additionally, the market will be looking closely at the acquisition price relative to MYSTERY RANCH's earnings before interest, taxes, depreciation and amortization (EBITDA) to gauge the deal's valuation. A price-to-EBITDA ratio in line with or below industry norms could be seen as accretive to YETI's value.

From a branding perspective, the acquisition allows YETI to leverage MYSTERY RANCH's reputation for durability and performance in extreme conditions. This could enhance YETI's brand equity among core outdoor segments. It is crucial to ensure that MYSTERY RANCH's brand identity is preserved to maintain its loyal customer base while also integrating the brand into YETI's broader marketing strategy.

The alignment of both brands' values and commitment to quality is key to a seamless transition and could provide a platform for collaborative innovation. The challenge will be to maintain brand differentiation while achieving the desired synergy.

Leading global designer and manufacturer of outdoor gear announces agreement to acquire high-performance backpack company

AUSTIN, Texas--(BUSINESS WIRE)-- YETI Holdings, Inc. (“YETI”) (NYSE: YETI), a leading premium outdoor brand, today announced it has signed an agreement to acquire MYSTERY RANCH, a premier designer and manufacturer of durable load-bearing backpacks, bags, and pack accessories.

“MYSTERY RANCH packs have earned a global reputation within the most demanding communities by building load-bearing equipment that delivers in the harshest environments. Their ethos, passion and people not only align with the YETI team, but also connect well with our commitment to innovation and our customers,” said Matt Reintjes, President & CEO at YETI. “Their communities, ambassadors and obsession with quality make it a natural fit with YETI.”

Founded in 2006, the original YETI cooler was born out of frustration and passion. YETI has since grown into an industry innovator of premium outdoor gear designed for the hardcore outdoor adventurer, outside enthusiast and everyone in between. Like YETI, MYSTERY RANCH products have been built with durability and performance in mind for over two decades whether for use on the fire line, backcountry or in your everyday adventure.

“YETI’s passion for innovation and the outdoors aligns closely with our founding vision,” said Dana Gleason, Co-Founder of MYSTERY RANCH. “Renée Sippel-Baker, my co-founder, and I know they are a perfect partner to build upon our long history of making the best load-bearing equipment in the world for the most extreme users as well as the everyday mission.”

MYSTERY RANCH and the team will continue to operate out of Bozeman and will work with YETI over the next several months to integrate teams and functions.

For more information about YETI or MYSTERY RANCH, visit yeti.com or mysteryranch.com.

About YETI Holdings, Inc.

Headquartered in Austin, Texas, YETI (NYSE: YETI) is global designer, retailer and distributor of innovative outdoor products. From coolers and drinkware to backpacks and bags, YETI products are built to meet the unique and varying needs of diverse outdoor pursuits, whether in the remote wilderness, at the beach, or anywhere life takes our customers. By consistently delivering high-performing, exceptional products, we have built a strong following of brand loyalists throughout the world, ranging from serious outdoor enthusiasts to individuals who simply value products of uncompromising quality and design. We have an unwavering commitment to outdoor and recreation communities, and we are relentless in our pursuit of building superior products for people to confidently enjoy life outdoors and beyond. For more information, please visit www.YETI.com.

Investor Relations Contact:

Tom Shaw, CFA, 512-271-6332

Investor.relations@yeti.com



Media Contact:

YETI Holdings, Inc. Media Hotline

Media@yeti.com

Source: YETI Holdings, Inc.

FAQ

What company did YETI announce an agreement to acquire?

YETI announced an agreement to acquire MYSTERY RANCH, a designer and manufacturer of durable load-bearing backpacks, bags, and pack accessories.

When was YETI founded?

YETI was founded in 2006.

What is the location of MYSTERY RANCH's operations?

MYSTERY RANCH will continue to operate out of Bozeman.

Who is the President & CEO of YETI?

Matt Reintjes is the President & CEO of YETI.

What is the ticker symbol for YETI Holdings, Inc.?

The ticker symbol for YETI Holdings, Inc. is YETI.

YETI Holdings, Inc.

NYSE:YETI

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Sporting and Athletic Goods Manufacturing
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United States of America
AUSTIN