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K2 Announces Entering into Letter of Intent to Acquire CMC Sport GmbH and Creation of JT Europe

K2 Inc. (NYSE: KTO) announces that it has signed a letter of intent to acquire CMC Sport GmbH, Europe’s leading wholesaler of paintball products, and the creation of a new entity: JT Europe. JT Europe will distribute JT®, WGP®, Viewloader® and Brass Eagle® paintball products in addition to paintballs and accessories currently distributed by CMC from K2’s state-of-the-art distribution facility in Hassloch, Rheinland-Pfalz, Germany.

Matthew Huff, previously Director of International Business Development at Brass Eagle, LLC, in Bentonville, Arkansas, has been promoted to General Manager of JT Europe with responsibility for the success of the operation. He will be working out of the K2 Europe headquarters in Penzberg, Bavaria, Germany. Manfred Ulrich, CMC’s founder, will serve as Director of Sales and Business Development.

John Rangel, President – K2 Inc. European Operations, commented “The CMC team has earned its place as the top paintball distributor in Europe. They have excelled at serving multiple channels – recently opening Metro Group stores – and provided best-in-business technical support from people who live and breathe the sport. Their abilities combined with market leading, innovative products and excellent distribution capabilities will add a new dimension to the paintball business in Europe. We are pleased that Manfred Ulrich, the founder of CMC Sport GmbH, will remain to guide the next generation of growth at JT Europe”.


About K2 Inc.
K2 Inc. is a premier, branded consumer products company with a portfolio of leading brands including Shakespeare®, Pflueger® and Stearns® in the Marine and Outdoor segment; Rawlings®, Worth®, Brass Eagle®, JT®, Viewloader®, Worr Game Products® and K2 Licensing & Promotions® in the Team Sports segment; K2®, Volkl®, Marker®, and Ride® in the Action Sports segment; and, Adio®, Marmot® and Ex Officio® in the Apparel and Footwear segment. K2's diversified mix of products is used primarily in team and individual sports activities such as fishing, watersports activities, baseball, softball, paintball, alpine skiing, snowboarding and in-line skating. Among K2's other branded products are Hodgman® waders, Miken® softball bats, Tubbs® and Atlas® snowshoes, Planet Earth® apparel and Sospenders® personal floatation devices.
Adio®, Atlas®, Brass Eagle®, Ex Officio®, Hodgman®, JT®, K2®, Marker®, Marmot®, Pflueger®, Planet Earth®, Rawlings®, Ride®, Shakespeare®, Sospenders®, Stearns®, Tubbs®, Viewloader®, Volkl®, Worth® and Worr Game Products®, are trademarks or registered trademarks of K2 Inc. or its subsidiaries in the United States or other countries.

http://www.viewloader.com/article.asp?id=294