Osprey has entered into a binding agreement to be acquired by Helen of Troy.
Osprey designs technical packs for outdoor, travel and everyday adventures. With this acquisition, Osprey and its team of more than 270 employees will join the global consumer products company’s family of Leadership Brands, which includes Hydro Flask, OXO, Braun, Honeywell, Pur, Vicks, Hot Tools and Drybar.
President and CEO Layne Rigney will join Helen of Troy and continue to lead Osprey, which will remain headquartered in the foothills of the San Juan Mountains in Cortez, Colorado, with offices in Utah as well as the United Kingdom and Vietnam.
Innovative product design will remain a focal point for the brand as will its goal to become the most progressive, transparent and sustainable hardgoods brand. Osprey’s dedication to create best-in-class, high performance, sustainable gear reflects the brand’s love of adventure and devotion to the outdoors. That dedication will continue with Helen of Troy.
Osprey Chairman Scott Pfotenhauer said, “Helen of Troy understands that to build a strong, long-lasting brand you need to do right by your customers, employees, community, and planet. I believe the blend of these companies will be a powerful force in the outdoor industry for years to come.”
After 47 years of designing packs, Osprey’s founder, co-owner and Director of Innovation Mike Pfotenhauer (pictured) along with his wife, co-owner and board member Diane Wren, have decided to retire and sell the company. They chose Helen of Troy because they felt Helen of Troy is committed to long-term ownership and stewardship of the brand and holds reverence for creative, innovative design.
Pfotenhauer said, “They won’t mess with the secret sauce that has worked for Osprey for almost 50 years. Osprey will continue to do what it does best: design and build outstanding products for the next 50 years and beyond.”
In addition to Osprey’s product design and product warranty, Helen of Troy was impressed by Osprey’s design center in Vietnam, and its strong factory partnerships.
Helen of Troy has integrated newly acquired businesses into its brand portfolio while offering them fresh perspectives from its diverse leaders and employees. As they have with other brands, Helen of Troy will provide Osprey with expertise and investment as it leverages its scale and capabilities to facilitate further innovation and growth.
Rigney added, “We wish Mike and Diane a well-deserved, adventurous retirement. As Osprey embarks on this next chapter under the wing of Helen of Troy, the brand is poised for growth with a steadfast commitment to honor the legacy that Mike and Diane have built – one of best-in-class product designs, top-notch customer service, and an unwavering commitment to transparency and sustainability.”
Pfotenhauer will consult for Osprey for the next year finishing the design projects he is working on.
“I am leaving behind a team of collaborative design experts who I have worked alongside for many years. They are ready to carry the Osprey design ethos forward to new horizons,” he said. “Osprey has been my life for 47 years. Founding, growing and nurturing this company has consumed most of my waking hours. It has been a total blast, always challenging but constantly rewarding and fulfilling.”
