Yesterday, Thule announced their acquisition of Tepui for $9.5 million. In a move that most would not find all that surprising, this acquisition enables Thule to directly take on Yakima in the rooftop tent market.
Based in Santa Cruz, Tepui was founded in 2010 by Evan and Gabriela Currid. Evan spent a ton of time in his wife’s home country of Venezuela where everyone heads out camping with rooftop tents on the weekends. He wanted to offer the same thing to US customers back home so started building his own.
Thule states that Evan will continue to manage the product category within Thule Group but no word on whether or not the brand will remain in California along with the company’s 20 employees.
“Roof Top Tents offer consumers a great way to utilize their existing cars for self-reliant overnight travel to remote destinations, where the journey is the principal goal. The overlanding category has been growing steadily over the last few years and we are very pleased to add this great assortment of high-quality Roof Top Tents and accessories to our broad portfolio of products that cater to consumers who enjoy living an active life,” said Magnus Welander, CEO and President of the Thule Group.
Welander continued, “The synergies between the Thule brand’s market leading expertise for transport solutions on the car and Tepui Roof Top Tents exist in both consumer marketing and in the supply chain. When combined with the mutual philosophies on high quality, smart engineering and great design, as well as a shared passion for the outdoors, Tepui is a natural fit to our portfolio.”