Lifetime Products Acquires Dragonfly Innovation and Kayak Products
Lifetime Products Inc. - a worldwide Utah-based manufacturer of folding tables and chairs, sporting goods equipment, outdoor storage sheds and lawn and garden products - announces that it has acquired the assets of San Bernardino, Calif.-based Dragonfly Innovation Corp., adding the company's innovative kayaks to Lifetime's own lineup of sporting goods products.
"This is an investment in Utah manufacturing and Utah jobs," says Richard Hendrickson, president of Lifetime Products. "Acquiring Dragonfly Kayaks allows us to add to our lineup of made in the USA products, and to enter the water sports arena opening us to an entirely new, yet complementary, sporting goods industry."
Lifetime has agreed to purchase all of Dragonfly Innovation's assets, including its intellectual property, trademark portfolio, manufacturing equipment, inventory and its retailer contracts. Now, kayak products previously distributed by Dragonfly Innovation will be manufactured at Lifetime's headquarters and manufacturing facility in Clearfield, Utah. Because of their large size and resulting freight costs, kayaks are not economical imports. Acquisition of the company will assist in keeping jobs in the United States and Utah. Branding of the kayaks is to be determined.
"This is an investment in Utah manufacturing and Utah jobs," says Richard Hendrickson, president of Lifetime Products. "Acquiring Dragonfly Kayaks allows us to add to our lineup of made in the USA products, and to enter the water sports arena opening us to an entirely new, yet complementary, sporting goods industry."
Lifetime has agreed to purchase all of Dragonfly Innovation's assets, including its intellectual property, trademark portfolio, manufacturing equipment, inventory and its retailer contracts. Now, kayak products previously distributed by Dragonfly Innovation will be manufactured at Lifetime's headquarters and manufacturing facility in Clearfield, Utah. Because of their large size and resulting freight costs, kayaks are not economical imports. Acquisition of the company will assist in keeping jobs in the United States and Utah. Branding of the kayaks is to be determined.