US-based Ares Outdoors has completed the transaction to acquire the assets of Minnesota-based hunting and outdoor apparel online retailer Thlete.
Ares plans to offer Thlete products through a new subsidiary called Thlete Outdoors. This new business will be headquartered in Franklin, Tennessee, US.
Financial terms of the transaction and other acquisition details have not been disclosed.
Thlete founder Mike Zaudke said: “Ares Outdoors plans to make significant investments in Thlete to bring you even more new offerings. You should expect to see an expanded product assortment incorporating an additional camo pattern, solid colours, new state-of -the art fabrics that will be applied to base and mid layers, insulating and outer layers, and rain and hard-shell wear.”
Ares Outdoors president William Spalding said: “Ares is excited to acquire this valuable brand and looks forward to significantly investing in Thlete to expand its product offering and refine and grow the business.
“We’re very pleased to have worked with Mike on this transaction. His enthusiasm for hunting and his knowledge of the hunting and outdoor apparel business are evident in the superior quality and functionality of Thlete’s products.
“This brand serves a customer we know and understand, and we look forward to providing even more value to them going forward.”
Spalding noted that Ares is planning a number of acquisitions and investments in major brands in the outdoor segment.