by In a deal that must have been in the works for a while now, YETI Holdings, Inc. has purchased Mystery Ranch. YETI is well-known for their coolers and drinkware while Mystery Ranch makes high-end packs for hunting, the outdoors, and the military. It seems like a good acquisition as both companies are known for making higher-end products.
Below are examples of Mystery Ranch packs as displayed at the 2024 SHOT Show from photos I took.
While YETI did not have a booth at the SHOT Show, they did have a booth at the recent Dallas Safari Club Convention. Interestingly enough, both the Complementary Spouse and I were given imprinted YETI can coolers after we attended the DSC Chapter Leaders breakfast.
From the joint press release announcing the purchase:
“MYSTERY RANCH packs have earned a global reputation within the most demanding communities by building load-bearing equipment that delivers in the harshest environments. Their ethos, passion and people not only align with the YETI team, but also connect well with our commitment to innovation and our customers.” said Matt Reintjes, President & CEO at YETI. “Their communities, ambassadors and obsession with quality make it a natural fit with YETI.”
Founded in 2006, the original YETI cooler was born out of frustration and passion. YETI has since grown into an industry innovator of premium outdoor gear designed for the hardcore outdoor adventurer, outside enthusiast and everyone in between. Like YETI, MYSTERY RANCH products have been built with durability and performance in mind for over two decades whether for use on the fire line, backcountry or in your everyday adventure.
“YETI’s passion for innovation and the outdoors aligns closely with our founding vision,” said Dana Gleason, Co-Founder of MYSTERY RANCH. “Renée Sippel-Baker, my co-founder, and I know they are a perfect partner to build upon our long history of making the best load-bearing equipment in the world for the most extreme users as well as the everyday mission.”
YETI is headquartered in Austin, Texas while Mystery Ranch is located in Bozeman, Montana. The announcement states that Mystery Ranch will continue to work out of Montana and will work with YETI to “integrate teams and functions”.
I did not realize until I read of this transaction that YETI is a New York Stock Exchange publicly traded stock. They have a market capitalization of almost $3.8 billion on annual revenues of over $1.5 billion. YETI has 900 plus employees. They are much larger than I expected when I started writing this post! They will be adding another 150 employees with their purchase of Mystery Ranch.
