K2 Sports
K-2, Corporation. was founded in 1961 by brothers Bill and Don Kirschner on Vashon Island, near Seattle, Washington in the United States. K2 is known for pioneering fiberglass ski technology, which made skis significantly lighter and more lively than their wood and metal contemporaries. Famous users of K2 skis include Seth Morrison, pro champion Spider Sabich, World Cup and Olympic champion Phil Mahre, and his twin brother Steve Mahre, World Champion and Olympic silver medalist.
In late 1969, the company's rapid growth required new capital and Bill Kirschner decided a well-financed partner was 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]
In 1995, Anthony Industries sold off its Anthony Pools division to its rival, Sylvan Pools, and changed its name to K2, Inc. By 2000, board member Richard Heckmann had assumed control and embarked on a vigorous growth program. In order to remain financially competitive, K2 moved its manufacturing from Vashon Island to China in 2001.[2] On June 22, 2006, K2 announced it was moving its business office from Vashon Island to Seattle's Industrial District. [1] On April 25, 2007 Jarden Corporation announced a definitive agreement to acquire K2, Inc. for a cash and stock value per share of $15.50. Jarden is controlled by Martin Franklin, a British investor and triathlete.[3]
Product lines
It is important to note that while there is some overlap in the companies that K2 owns (e.g. K2 also owns Line, which compete directly with K2's self-branded skis), the separate companies retain control of their respective product lines. For all intents and purposes, they are completely different companies.
K2 Lines
Marine and outdoor
Team sports
Action sports
Apparel
See also
References
- ^ Luhn, Andy (July 23, 2002), "K2 Corporation (K2 Sports) -- a History", http://www.historylink.org/essays/output.cfm?file_id=3901, retrieved 2008-03-12
- ^ Virgin, Bill (June 23, 2006), "K2 Sports will move offices to S. Seattle", Seattle Post-Intelligencer, http://www.seattlepi.com/business/275072_ktwo23.html, retrieved 2007-10-25 Thereafter, the company acquired Rawlings Sporting Goods and Worth, a manufacturer of baseball bats; Brass Eagle and Viewloader in the paintball business; Volkl, Marker, and Marmot.
- ^ http://www.rcds.rye.ny.us/page.cfm?p=1226
- ^ K2Sports.com
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