Igloo Purchased by Acon Investments
Posted on March 31, 2014 by
KATY, Texas-Igloo Products has been acquired by an affiliate of Acon Investments, a Washington-based private equity firm.
Acon purchased the cooler manufacturer from J.H. Whitney, a private equity firm based in Connecticut, which will maintain a small stake in the company. Igloo's chairman and CEO, Gary Kiedaisch, and other members of the existing management team, are also buying what an Acon-Igloo joint statement described as "significant interests" in the company in connection with this transaction, and will continue to lead the company. Terms of the transaction were not disclosed.
The statement added that Igloo will focus on continuing its growth in the outdoors, housewares and sporting goods markets going forward. Kiedaisch said, "Acon brings fresh capital and resources to Igloo, and their diversified portfolio and expertise provides Igloo with the ability to penetrate new markets and categories through product extensions and acquisitions."