STOCKHOLM (BRAIN) — Thule Group announced this week that it has acquired car rooftop tent maker Tepui Outdoors Inc. for $9.5 million.
“Rooftop tents offer consumers a great way to utilize their existing cars for self-reliant overnight travel to remote destinations, where the journey is the principal goal. The overlanding category has been growing steadily over the last few years and we are very pleased to add this great assortment of high-quality rooftop tents and accessories to our broad portfolio of products that cater to consumers who enjoy living an active life,” said Magnus Welander, Thule Group’s president and CEO.
“The synergies between the Thule brand’s market-leading expertise for transport solutions on the car and Tepui rooftop tents exist in both consumer marketing and in the supply chain. When combined with the mutual philosophies on high quality, smart engineering and great design, as well as a shared passion for the outdoors, Tepui is a natural fit to our portfolio,” he added.
Tepui was founded in 2010 by Evan and Gabriela Currid. The company is based in Santa Cruz, California, and led by Evan Currid, who will continue to manage the product category within Thule Group, according to a news release.
Tepui has approximately 20 employees, and net sales for 2018 are expected to total $6.5 million.
