Rhino-Rack is a household name in 4WDing circles, here in its core Australian market.
The company, founded by Richard Cropley back in ‘92, and headquartered in Sydney, is a market-leading manufacturer of highly engineered roof racks, trays, mounting systems and accessories.
The popular Pioneer roof trays are a common sight atop touring rigs in any campsite around the country.
As of June 2nd, Clarus Corporation, a global company focused on outdoor and consumer enthusiast markets, has announced it has entered into a definite agreement to acquire Rhino-Rack Australia, New Zealand and USA for an aggregate purchase price of approximately $AUD 255 million.
Clearly, roof racks are big business!
According to the official presser, “Rhino-Rack as a brand will remain unchanged and operate independently as a wholly-owned indirect subsidiary of Clarus, reporting into Clarus’ New Mobile Solutions Category.”
Headquartered in Salt Lake City, Utah, Clarus Corporation is a developer, manufacturer and distributor of outdoor and lifestyle products with a focus on climbing, ski, mountain and sports markets.
John Walbrecht, President of Clarus, said, “Rhino-Rack is truly a unique brand and one that we view as perfectly aligning with our ‘Super Fan’ brand acquisition strategy.”
“Immediately following the closing of the transaction, we intend to seek to expand Rhino-Rack’s product penetration in North America, organically grow in its core Australia and New Zealand markets, and capitalise on our existing network of key distributors and dealers to develop sales in the rest of the world.