19SUBSEQUENT EVENT

On November 14, 2012, the Company acquired all of the outstanding common and preferred stock of Jetboil, Inc. (“Jetboil”). Jetboil, founded and based in Manchester, New Hampshire, designs and manufactures the world’s top brand of portable outdoor cooking systems. The approximately $16,000 acquisition was funded with existing cash and credit facilities. The Company believes that sales of Jetboil’s innovative cooking products can be expanded through the Company’s U.S. and Canadian marketing and distribution networks and that the Company’s other camping and paddling brands will benefit from Jetboil’s strong presence in the Specialty trade channel and their international sales network. The Jetboil acquisition will be included in the Company’s Outdoor Equipment segment.

Due to the difference in fiscal year end periods between the Company and Jetboil and the timing of certain significant year end accounting procedures to be performed at Jetboil, it is impractical to present full year pro-forma results of the combined entities. Unaudited revenues for Jetboil for the ten months ended October 31, 2012 were approximately $11,500.

The Company is currently in the process of determining the fair value of the assets acquired and the liabilities assumed in this business combination. Any potential goodwill resulting from this acquisition is not expected to be deductible for tax purposes. Transaction costs are not estimated to be material.

The amounts of net sales and operating profit for Jetboil for the twelve month periods ending December 31, 2011 and December 31, 2010, the latest periods for which full year results are available, were as follows:



	Twelve months ended
	December 31, 2011 (unaudited)		December 31, 2010 (unaudited)
Net sales	$	10,775	$	7,282
Operating profit		1,203		541