Pelican Intl Inc. Acquires Assets of Pelican International Inc. and Confluence Outdoor Inc.

Renewed stability and a bold vision for long-term growth for the paddlesport market leader with U.S. and Canadian manufacturing operations.

LAVAL, QC, May 12, 2025 /PRNewswire/ - Pelican Intl Inc., a newly formed entity, proudly announces the successful acquisition of the assets, excluding GSI Outdoors, of Pelican International Inc. and Confluence Outdoor Inc. through a court-approved Sale and Investment Solicitation Process (SISP) under the Companies' Creditors Arrangement Act (CCAA) in Canada and Chapter 15 in the United States. This transaction was led by former Pelican President and CEO, Danick Lavoie, along with former executives Frederic Guay and Guy Prenevost. A diverse and experienced group of private investors, represented by Vincent Chiara, President and founder of Mach Capital, Marc Varadi, President of RIMAP Hospitality, Luc Sabbatini, Founder of Ganesh Capital, and Charles Malo, Board member and investor has partnered with management to set Pelican Intl's path for growth, resilience, and success. Today marks a pivotal moment for the paddlesport industry, ensuring the continued legacy and innovation of a world-leading portfolio of brands. The core of the company remains strong, as over 400 passionate and dedicated employees will pave the way for the future.

In an effort to further integrate the two companies, Confluence Outdoor Inc. will now operate as Pelican Intl USA Inc., unifying North American operations. This change will provide a clear path for the legacy paddlesport name, Confluence Outdoor, to become our online marketplace and storefront for consumers, as well as the exclusive platform to streamline how we do business with our large retailers and independent dealer network for years to come at www.confluenceoutdoor.com.

A Message to Our Stakeholders

To Our Employees: We extend our gratitude to our resilient workforce, whose unwavering dedication sustained high-performing operations despite challenging market conditions, unsustainable debt levels, and complex CCAA proceedings. Your commitment to excellence has preserved our brands' reputation for quality and reliability, laying a strong foundation for our future success.

To Our Customers: Your continued support through the restructuring process has been invaluable in making this transaction possible. Pelican Intl Inc. is more committed than ever to delivering unparalleled products, innovation, and value to paddlesport enthusiasts of all levels. With a robust portfolio including Pelican, Wilderness Systems, Dagger, Perception Kayak, Advanced Elements, and Boardworks, we will continue to expand the accessibility of our products across all B2B and B2C channels, while further enhancing the agility and simplicity of our supply chain and the customer experience.

To Our Industry: Pelican Intl Inc. is eager to lead the transformation of the paddlesport category, driving innovation and promoting sustained growth in participation. We aim to foster a healthy, collaborative industry capable of disrupting in ways that create value for all brands, so we can continue to invest in new products that inspire adventurers worldwide.

To Our Suppliers: We sincerely acknowledge the support of both domestic and international partners who have championed the brands over the years and in recent months through the CCAA process. The newly formed Pelican Intl Inc. is committed to forging renewed partnerships, leveraging our state-of-the-art rotomolding, extrusion, and thermoforming facilities in Québec and Greenville, South Carolina, to deliver exceptional products and support mutual growth.

Strategic Vision for Growth

Supported by new investors, Pelican Intl Inc. is poised to further consolidate its leadership in the paddlesport sector. The company will actively pursue acquisitions and strategic partnership to strengthen its portfolio, ensuring it remains the global leader in paddlesports. By leveraging all distribution channels, we aim to reach enthusiasts across generations, from beginners to seasoned adventurers. In addition, our advanced manufacturing capabilities in Canada and the United States are well-positioned to support other consumer goods brands and strategic industries requiring large-format, complex equipment and parts. This will be supported by our deep product development and innovation expertise.

"This acquisition reflects the enduring strength of our brands, the resilience of our employees, and the loyalty of our retailers. We assembled an exceptional group of investors, and I am deeply grateful for their trust. Their level of commitment to making this complex transaction possible will create a well-capitalized company, preserve Pelican's legacy, and shape a renewed path for the future," said Danick Lavoie, President and CEO of Pelican Intl Inc. "The fundamentals of Pelican are resilient and strong. Over the past decades, Pelican was built with vision and passion, bringing breakthrough product innovation to the market and building solid manufacturing capabilities. In recent years, the company consistently outperformed competitors — even through rapid growth and a sharp market cycle decline. Pelican further solidified its leading position through strategic M&A, distribution channel diversification, and strong operational performance. I am privileged to embark on this unique opportunity to partner with the Pelican Intl team and my new partners to create sustainable growth, transform the paddlesport industry, and leverage our manufacturing capabilities."

About Pelican Intl Inc.

Headquartered in Laval, Québec, Canada, Pelican Intl Inc. is a global leader in recreational and performance paddlesport equipment and outdoor lifestyle accessories, operating advanced manufacturing facilities in Laval and Salaberry-de-Valleyfield, Québec, Canada, and Greenville, South Carolina. With a portfolio of iconic brands and a commitment to innovation, the company has empowered over six million outdoor enthusiasts worldwide to create lasting memories on the water.

Visit www.pelican-intl.com for company information, or explore our brands, find a local retailer, or shop on our online marketplace at www.confluenceoutdoor.com.

Advisors
Cain Lamarre acted as legal advisor for the acquisition, while Woods LLP served as legal counsel for matters related to the CCAA proceedings.

SOURCE Pelican Intl Inc.