Helen of Troy Limited (NASDAQ: HELE), a designer, developer and worldwide marketer of consumer brand-name housewares, heath, home and beauty products, has completed its acquisition of Osprey Packs Inc. for $414.7 million in cash.
Osprey is a U.S. provider of technical and everyday packs with a product portfolio containing a range of backpacks for hiking, mountaineering, skiing, climbing, mountain biking, trail running, commuting and school as well as luggage and travel accessories.
“Osprey is a highly respected and fast-growing market leader that will be a significant complementary addition to our Housewares indoor and outdoor portfolio alongside Hydro Flask and OXO,” added Helen of Troy CEO Julien Mininberg. “With approximately half of its sales outside of the United States, Osprey further accelerates our international growth strategy. We see excellent opportunities to enhance and expand Osprey’s already robust new product pipeline, expand distribution with new retail customers, and further expand the brand’s footprint both in the U.S. and internationally.”