Pelican International Inc. Acquires Advanced Elements Inc.
An expanded product portfolio that provides more convenience, technology and international consumer reach.
LAVAL, QC, June 14, 2021 /PRNewswire/ - As part of its strategic plan, Pelican International Inc., the world leader in the paddle sports industry, acquires Advanced Elements Inc., a pioneer in the inflatable market, through its wholly owned subsidiary Confluence Outdoors Inc. This acquisition broadens Pelican's portfolio in the paddle sports industry, as it now offers all of its quality products with a complete range of technology, in addition to positioning Pelican as a key player in inflatable watercraft development and innovation.
"This transaction fits perfectly into our strategy to further consolidate our position as a world leader within the paddle sports industry and to offer high-quality and high-performance products to diverse consumers across all ages and backgrounds who want to explore the world outdoors. The Advanced Elements acquisition carves a path forward to help us become the premier brand of inflatable kayaks and SUPs in more than 50 countries. It's an ideal addition to our product offering to reach our audience across traditional and e-commerce channels," said Danick Lavoie, President and CEO of Pelican International.
"Pelican is excited by the acquisition of Advanced Elements as it provides us with another well-respected and recognizable brand to offer our extensive distribution network in order to meet the fast-growing demand for inflatable kayaks and SUPs. I look forward to this next chapter in our growth strategy," stated Frederic Guay, Senior Vice-president, Global Sales and Marketing, Pelican International.
"At Advanced Elements we have sought and envisioned this partnership for a long time and are thrilled to join the Pelican International Group with a complete and powerful line-up of products. We wanted a business collaboration that would bring us to the next level and leverage our know-how and leadership position in the inflatable and SUP markets, and we could not hope for a better partner. I am confident that this next phase in our venture will define this market as both our passions for technology and our focus on customer needs will set us apart," said Clay Haller, Co-founder and President of Advanced Elements.
Reed Smith served as legal counsel to Pelican, and Tonkon Torp LLP served as legal counsel to Advanced Elements for this transaction.
About Pelican International
At Pelican, we are world leaders within the water and nautical sports industry. Renowned for exceptional quality, innovation and expertise, Pelican has become the foremost global authority in the design and manufacture of kayaks, canoes, pedal boats, stand-up paddle boards (SUPs), fishing boats, and watersport accessories. As an international driving force within the industry, we offer both paddle sports and everyday outdoor enthusiasts a diverse array of products through our portfolio of seven well-known brands: Pelican®, Wilderness Systems®, Perception®, Dagger®, Mad River Canoe®, Harmony Gear®, and Boardworks®.
Pelican has over 935 employees across three manufacturing sites in North America—this strategically located distribution footprint allows our clientele to easily procure kayaks, paddle boards and boats anywhere they choose to enjoy the water. Pelican constantly innovates to offer the best paddling sports products across all categories and price ranges. Above all, our passionate team seeks to positively impact the lives of outdoor enthusiasts by providing safe pleasure crafts so they can relish the wild beauty of nature while keeping sustainability and social responsibility in mind.
About Advanced Elements Inc.
We at California-born Advanced Elements have the express goal of developing new and unique paddle sports products that enhance customers' outdoor experience. Our focus is on designing and manufacturing inflatable kayaks with cutting-edge technology and providing excellent customer service. We are deeply involved in product development with patented technology, striving to develop inflatable kayaks, iSUPs, and paddle sports accessories that excel in performance, quality and portability. All of our products have been crafted to give paddlers the tools they need and the value they deserve.
SOURCE Pelican International
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