EXEC: BOA, Primaloft and Velocity Outdoor Drag on Parent’s Q3 Results
November 6, 2023
Brand aggregator Compass Diversified (CODI) saw third-quarter sales decline 25 percent at BOA and 16 percent at Primaloft as both businesses continued to be impacted by elevated inventories in the marketplace. Among CODI’s other active lifestyle brands, revenues grew 13 percent at Marucci Sports and 7 percent at 5.11 while sliding 28 percent at Velocity Outdoor.
CODI also announced that it reached an agreement to sell Marucci Sports to Fox Factory Holding Corp for $572 million and took a significant impairment charge for the underperformance of its Velocity Outdoor airguns and archery business. SGB