SALT LAKE CITY, Nov. 09, 2018 (GLOBE NEWSWIRE) -- Clarus Corporation (NASDAQ:CLAR) ("Clarus" and/or the "Company") announced the acquisition of the assets of SKINourishment, Inc. The acquisition provides an entry into the skincare category which, along with other sport-enhancing products, is a strategic focus of the Company and a newly targeted high-growth potential category.
SKINourishment offers organic, 100% food-grade, plant-based skin products that are safe and effective, with distribution across 37 countries. Since SKINourishment's products are made from plants and food-grade ingredients, they are cruelty-free, non-GMO, vegetarian, vegan and some are gluten free. Its products are sold under four brands—climbOn®, crossFIXE®, POLYN® and POLYNTM baby. Clarus' initial focus will be on the launch of seven climbOn products through its global distribution platform.
"Clarus has identified skincare, along with sport supplements, as a new category of focus with high-growth potential, and we believe that our acquisition of SKINourishment provides an important strategic entrance," said John Walbrecht, president of Clarus. "Similar to our existing brands, SKINourishment has built a purpose-driven, ‘super fan brand' dedicated to using the highest-quality organic ingredients. Its innovative and differentiated products have fostered product adoption at both the core user and athlete level, including strong loyal followers like climbing athlete Tommy Caldwell.
"These important qualities provide Clarus with a platform to grow SKINourishment's existing portfolio, while targeting other sport-enhancing products using natural, organic, cannabis-infused, or alternative ingredients. We believe that we are uniquely capable to do so given our global brand ambassador team and distribution footprint, our commitment to innovation and a strong focus on sales and marketing."
In 2012, Polly Glasse founded SKINourishment to house all four brands under the same umbrella. She will remain the leader of SKINourishment's product innovation under Clarus' ownership. Commenting on the opportunity, she said: "We are proud to offer plant-based products for the largest organ in your body--your skin. We couldn't be more thrilled to join the Clarus family as they are a partner with the same values and ethics as our great company."
SKINourishment is based in Wimberley, Texas. Its synthetic-free skincare products are made with food grade ingredients and effective for adults, children and animals, and are safe for our environment. More information can be found at www.skinourishment.com.
Financial terms of the asset acquisition were not disclosed.
Clarus Corporation is focused on the outdoor and consumer industries, seeking opportunities to acquire and grow businesses that can generate attractive shareholder returns. The Company has substantial net operating tax loss carryforwards which it is seeking to redeploy to maximize shareholder value. Clarus' primary business is as a leading developer, manufacturer and distributor of outdoor equipment and lifestyle products focused on the climb, ski, mountain, and sport categories. The Company's products are principally sold under the Black Diamond®, Sierra® and PIEPS® brand names through specialty and online retailers, distributors and original equipment manufacturers throughout the U.S. and internationally. For additional information, please visit www.claruscorp.com or the brand websites at www.blackdiamondequipment.com, www.sierrabullets.com, or www.pieps.com.
Please note that in this press release we may use words such as "appears," "anticipates," "believes," "plans," "expects," "intends," "future," and similar expressions which constitute forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are made based on our expectations and beliefs concerning future events impacting the Company and therefore involve a number of risks and uncertainties. We caution that forward-looking statements are not guarantees and that actual results could differ materially from those expressed or implied in the forward-looking statements. Potential risks and uncertainties that could cause the actual results of operations or financial condition of the Company to differ materially from those expressed or implied by forward-looking statements in this release include, but are not limited to, the overall level of consumer demand on our products; general economic conditions and other factors affecting consumer confidence, preferences, and behavior; disruption and volatility in the global currency, capital, and credit markets; the financial strength of the Company's customers; the Company's ability to implement its business strategy, the ability of the Company to execute and integrate acquisitions; changes in governmental regulation, legislation or public opinion relating to the manufacture and sale of bullets by our Sierra segment, and the possession and use of firearms and ammunition by our customers; the Company's exposure to product liability or product warranty claims and other loss contingencies; stability of the Company's manufacturing facilities and suppliers; the Company's ability to protect patents, trademarks and other intellectual property rights; any breaches of, or interruptions in, our information systems; fluctuations in the price, availability and quality of raw materials and contracted products as well as foreign currency fluctuations; our ability to utilize our net operating loss carryforwards; changes in tax laws and liabilities, tariffs, legal, regulatory, political and economic risks; and the Company's ability to declare a dividend. More information on potential factors that could affect the Company's financial results is included from time to time in the Company's public reports filed with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. All forward-looking statements included in this press release are based upon information available to the Company as of the date of this press release, and speak only as of the date hereof. We assume no obligation to update any forward-looking statements to reflect events or circumstances after the date of this press release.