Adventure Holdings Australia (AHA) have acquired Australian distributor of outdoor and industrial brands Companion Brands for an undisclosed amount.
AHA will acquire 100 per cent of the Melbourne based Companion Brands, with the major investor behind the acquisition being private equity firm Odyssey Private Equity.
The main investors in AHA are Vanessa Garrard, Dr Glen Richards and Odyssey Private Equity.
AHA was formed last year in order for Odyssey to acquire camping equipment company OZTrail. Just over a month ago, Odyssey also acquired underground mining services business MST Global from Macquarie Group, making this a very busy period for the private equity firm.
The deal will certainly boost the portfolio of both Odyssey and AHA, with Companion being a key distributor in the Australian market, distributing products to over 3400 outlets across leisure, hardware, auto and outdoor categories.
Vanessa Garrard (pictured), the CEO of AHA, says the acquisition greatly complements AHA's existing portfolio.
"Companion Brands provides an array of complimentary product categories for our portfolio including camping fridges, gas hot water systems and 4x4 equipment," says Garrard.
"I'm excited to work with Companion's team to see the product range and brands reach new markets through our distribution network including US and UK."
The CEO of Companion, Steven McLauglan, says the deal allows Companion to continue its international expansion strategy.
"This is the perfect strategy for our business to continue its expansion both here in Australia and overseas," says McLaughlan.
"Our brands will complement the great work that AHA is already doing with the OZtrail business. For Companion Brands it is business as usual as the new owners want the business to continue on its path of product innovation and sales growth."
Companion Brands, formed in 1995, will continue to run from its Melbourne head office.
Business News Australia
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