We are pleased to announce that our client Austin Canoe & Kayak, an omnichannel outfitter of kayak, camping and outdoor adventure gear, has been acquired by Summit Sports. Cascadia Capital served as the exclusive financial advisor to Austin Canoe & Kayak.
Founded over 20 years ago, Austin Canoe & Kayak is a leading specialty paddle sports and adventure retailer based out of the central Texas area. Over the years, the company has expanded to five retail locations and a rapidly growing online presence. This transaction is indicative of the uptick in deal activity amongst retailers in the segment and a continuation of Summit’s strategy to acquire retail leaders in outdoor specialty sports.
“Austin Canoe & Kayak has done a tremendous job building an omnichannel retail platform serving the water sports community with physical and online retail outlets, making them one of the most desirable assets in the summer recreation segment,” said Erik Einwalter, a Vice President in Cascadia’s Consumer & Retail group. “Summit Sports, which is predominately a winter sports retail outlet, recognized the value of acquiring a counter-seasonal retailer to help balance overhead and financing requirements throughout the year.”
Cascadia was uniquely qualified to represent Austin Canoe & Kayak due to its track record in the retail sector and focus on the outdoor segment as a key area of coverage. Our relationship with both the buyer and seller made negotiating a transaction efficient, while optimizing the outcome for our client.
For more information about this transaction, please contact the Cascadia Capital’s Consumer & Retail team:
John C. Siegler