Yeti Coolers Bought by Cortec Group

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Yeti Coolers, pioneers of the high-end cooler market, was acquired by New York-based private equity firm Cortec Group last Friday, June 15th. Yeti offers arguably the best coolers on the market, and apparently they only promote avid hunters and fisherman to executive positions:

From pehub.com:

“YETI’s partnership with Cortec represents a tremendous outcome for all parties involved, and we look forward to tracking the continued success of YETI. We are witnessing exceptionally strong demand from both strategic and financial buyers for enthusiast brands in the consumer sector,” added Ryan Budlong, a vice president at Harris Williams & Co. and member of the firm’s Consumer Group.

The terms of the deal were not announced, however Cortec typically acquires companies with valuations between $40-$300 million. Yeti grossed $13 million in 2011 2010, up from $3 million in 2008.

Cheers to Yeti for making great coolers and awesome YouTube videos:

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    • -5
      MWickham

      They haven’t released details related to the terms of the deal, but I doubt they would make any drastic changes to a company who is having such great success. PE firms generally help companies of Yeti’s size build relationships with manufacturers, retailers, and other strategic partners. I’d imagine they will be most involved in high-level management type stuff. I think it’s unlikely that Cortec would interfere with anything having to do with the product itself.

      ^ ThisTake a lapReply • 2 years ago
  1. -2
    The Baron

    Making a badass product that allows countless Americans to enjoy frosty adult beverages and then selling the company for countless millions. That’s the American Dream right there Gents.

    ^ ThisTake a lapReply • 2 years ago