Thule are best known for their roof and hitch racks, and they've now added another company to their portfolio to complement those offerings – Tepui Outdoors Inc., whose product lineup is focused around roof top tents. The cost to acquire Tepui is reported to have been $9.5 million.
According to a press release, Tepui Outdoors Inc. has approximately 20 employees, with net sales for 2018 expected to be approximately $6.5 million USD. Evan Currid, one of the founders of Tepui, will now manage the roof top tent category for Thule.
“The overlanding category has been growing steadily over the last few years and we are very pleased to add this great assortment of high-quality roof top tents and accessories to our broad portfolio of products that cater to consumers who enjoy living an active life. When combined with the mutual philosophies on high quality, smart engineering and great design, as well as a shared passion for the outdoors, Tepui is a natural fit to our portfolio,” said Magnus Welander, CEO and President of the Thule group.