K2 Sports
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| K2 Inc. | |
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| Type | Private company subsidiary of Jarden Corp. |
| Founded | 1961 |
| Headquarters | Carlsbad, California; |
| Key people | Richard J. Heckmann: Chairman and CEO; Dan Quayle: Director |
| Industry | Sporting Goods |
| Products | Athletic shoes, apparel, sports equipment accessories; others |
| Revenue | ▲$718.5 million USD (2003) |
| Employees | 4,700 |
| Website | www.k2inc.net |
K2 Inc. (NYSE: KTO) was founded in 1961 by brothers Bill and Don Kirschner in Vashon Island, near Seattle, Washington. K2 is known for pioneering fiberglass ski technology, which made skis significantly lighter and more lively than their wood and metal contemporaries.
In late 1969, the company's rapid growth required new capital and Bill Kirschner decided a well-financed partner would be necessary. The company was acquired by the Cummins Engine Company of Columbus, Indiana. Then in November 1976, the company was acquired by a private group of Northwest investors. The group, called Sitca, purchased K2 and its subsidiary, Jansport.
In 1982, company management purchased all outstanding shares of Sitca Corporation from the group of Northwest investors. Management decided to concentrate all resources on the alpine ski market. It sold its Jansport subsidiary, distribution subsidiaries in Canada, France and Austria, and majority ownership of the Swiss distribution subsidiary
In September 1985, Anthony Industries, Inc. acquired 100 percent of the stock of Sitca Corporation. Anthony, an NYSE listed company, develops and manufactures products for leisure and recreational markets under many brand names.[1]
On June 22, 2006, K2 announced it was moving its business office from Vashon Island to Seattle's Industrial District. (Manufacturing moved to China in 2001.)[2] On April 25th, 2007 Jarden Corporation announced a definitive agreement to acquire K2, Inc. for a cash and stock value per share of $15.50
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[edit] Product lines
K2 has since expanded and acquired many companies and lines, including:
[edit] K2 Lines
- K2 Skis
- K2 Skates
- K2 Bikes
- K2 Licensed Products
- K2 Snowboards
[edit] Marine and Outdoor
- Shakespeare — fishing equipment and accessories
- Stearns — PFD's and accessories
- Pflueger — Fishing Equipment
- Penn — Fishing Equipment, bought 2007
[edit] Team Sports
- Rawlings — Baseball and Football equipment and accessories
- Worth — Baseball equipment and accessories
- DeBeer Lacrosse — Lacrosse equipment and accessories
[edit] Action Sports
- Völkl — Skis, Snowboards, and accessories
- Marker — Ski bindings and accessories
- Ride — Snowboards
- Morrow — Snowboards
- 5150 — Snowboards
- Liquid — Snowboards
- Viewloader — Paintball marker
- Brass Eagle — Paintball marker
- Worr Game Products — Paintball marker
- JTUSA — Paintball marker
- Dana Designs — Backpacks
- Line — Skis
- Madshus — Skis
[edit] Footwear
- Earth shoes — Footwear
- Hawk Shoes — Footwear
- Tubbs — Snowshoes
- Adio — Footwear
- Atlas — Snowshoes
- Full Tilt — Ski boots
[edit] Apparel
- ExOfficio — Clothing
- Hilton Casuals — apparel
- Marmot — Sportswear
- Planet Earth — Sportswear
[edit] References
- ^ Luhn, Andy (July 23, 2002), "K2 Corporation (K2 Sports) -- a History", <http://www.historylink.org/essays/output.cfm?file_id=3901>. Retrieved on 12 March 2008
- ^ Virgin, Bill (June 23, 2006), “K2 Sports will move offices to S. Seattle”, Seattle Post-Intelligencer, <http://seattlepi.nwsource.com/business/275072_ktwo23.html>. Retrieved on 25 October 2007
