Hex, a small and eclectic Californian brand of backpacks and accessories, has been taken over by Exxel Outdoors, SGB Media reports. Exxel is the holding company for various American outdoor brands including Kelty, Sierra Designs, Slumberjack, Wenzel and Ultimate Direction. Hex was established in Los Angeles in 2010 by Dan Maravilla and Trent Valladares. The acquisition was reportedly finalized at the start of June, at an undisclosed price, and it became clear at Outdoor Retailer in Denver, where Hex products were displayed in the Exxel booth. The buyer told SGB that Hex and its focus on creative urban outdoor products neatly complemented the brands owned by Exxel. The group's chief executive, Harry Kazazian, was quoted as saying that Hex could at least triple or quadruple in size in the next three years.
Related articles
-
News briefsGreen Theme Technologies secures $6m for expansion
The US sustainable textile and materials science company raised funding to advance eco-friendly technologies for various high-performance markets.
-
ArticleAccell Group secures creditor support for recapitalization
The company’s creditors approved the restructuring plan, paving the way for recapitalization implementation.
-
News briefsNewell Brands prices $1.25bn in notes to refinance debt and extend maturity profile
The parent of Marmot, Coleman, Contigo and Campingaz has announced $1.25 billion in new notes to refinance existing debt, supporting longer-term financial flexibility.