Spy Optic Acquired by Bollé Brands
Spy Optic has been acquired by Bollé Brands, which wants to extend its reach in the North American market.
Bollé is based in France and makes sunglasses, goggles, and helmets for active sports. Bollé is owned by A&M Capital Europe, a private equity firm.
The sale price was not disclosed.
We are following up to find out what this means for Spy and its team in Carlsbad.
Spy used to be a publicly traded company but delisted from the stock exchange in 2015. Roth Capital Partners advised Spy on the sale.
Here’s the official press release:
Bollé Brands Acquires Spy Optic
Following the acquisition of Bollé Brands by A&M Capital Europe (“AMCE”) in August 2018, we are pleased to announce the acquisition of the SPY Optic brand. With this new acquisition, SPY Optic joins our existing brand portfolio of Bollé, Bollé Safety, Serengeti, Cébé and H2Optix and signals a strong commitment to playing a leading role in the premium performance sports and sports lifestyle eyewear and helmets markets.
Founded in 1994 and based in Southern California, SPY Optic designs, markets and distributes premium sunglasses, goggles, helmets and prescription eyewear. The SPY Optic brand, symbolized by the distinct “cross” logo has a strong brand awareness in its action sports segment, with a reputation for high-quality products, style, and innovation, most notably showcased in its Happy LensTM technology. SPY Optic is a cutting-edge disruptive brand perceived as cool, irreverent and high quality with high net promoter scores exceeding those of peer brands.
SPY Optic is highly complementary to Bollé Brands in terms of brand proposition, channel mix, and geographic presence. The combination will significantly bolster Bollé Brands’ scale in North America, will allow SPY Optic to benefit from increased investment in product development and distribution, and will facilitate an international expansion of the SPY Optic brand beyond its current footprint.
Peter Smith, CEO of Bollé Brands comments:
“We are excited to have acquired such an amazing brand. SPY Optic has its own unique and irreverent identity with huge growth potential in North America, its home market, and internationally where SPY Optic will leverage our Bollé Brands international distribution network. Our dedicated approach, support, and investment will drive exciting new developments in product innovation and design which will form the basis of considerable global growth. This new acquisition establishes Bollé Brands as one of the key players in the premium performance sport and lifestyle eyewear and helmets markets.”
In parallel with this acquisition, Bollé Brands invested significantly in new systems (new ERP, new BtoB and BtoC platforms) to support its customer-first strategy and to service excellence in product innovation and creativity.
About Bollé Brands
Bollé Brands is a leading eyewear and head protection group that designs, markets and distributes sunglasses, safety glasses, goggles and helmets. The company has developed a particular strength in the specialty markets of snow sports, water sports, cycling, golf, tennis, running, premium fashion and sport lifestyle. Today, Bollé Brands’ products are distributed and worn all over the word. The company constantly refines its trademark combination of fit, fashion and comfort, resulting in some of the most advanced products in the industry. Excellence in product innovation and creativity is at the heart of Bollé Brands’ strategy.