Outdoor recreational equipment provider Johnson Outdoors Inc. (NASDAQ: JOUT) is buying privately-held Seabear Gmbh.
The target makes electronic instruments for divers, such as smart watches, that can work underwater.
“We share Johnson Outdoors’ dedication to continuous improvement, always striving to be the best at what we do-creating advanced, reliable products that make diving safer and more enjoyable,” says Seabear CEO Arnie Sieber, who will join Johnson Outdoors’ Scubapro division, which in addition to underwater watches, makes wetsuits and snorkeling equipment.
Johnson Outdoors distributes a range of products for outdoors activities that include fishing boat anchors and cooking equipment for campers. The company also owns the Minn Kota motors, Subgear diving equipment and Old Town canoes brands.
Lifestyle and recreational brands continue to attract buyer interest. Investcorp is buying Poc Sweden AB, a maker of cycling and skiing helmets and Jarden Corp.(NYSE: JAH) is paying $1.5 billlion for yearbook maker Visant Holding Corp. Jarden owns the Rawlings sports equipment brand.