Number of employees Approx 500 globally Founded 1961 | Website www.k2sports.com Parent organization Jarden | |
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Type Private company
subsidiary of Jarden Corp. Industry Sporting goods; Action Sports; Running Key people Robert F. Marcovitch: President and CEO; Alex Draper: SVP of Marketing; Revenue US$718.5 million (2003) Headquarters Seattle, Washington, United States CEO Anthony De Rocco (22 Aug 2011–) Subsidiaries Völkl, K2 Snowboards, Line Skis, Adio Footwear, Earth Products Inc, SQUADRA, INC., Backcountry Access, Inc. | ||
K2 Corporation was founded in 1962 by brothers Bill and Don Kirschner on Vashon Island, near Seattle, Washington in the United States. K2 is known for pioneering fiberglass ski technology, which made skis significantly lighter and more lively than their wood and metal contemporaries. Famous users of K2 skis include Seth Morrison, pro champion Spider Sabich, World Cup and Olympic champion Phil Mahre, and his twin brother Steve Mahre, World Champion and Olympic silver medalist.
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In late 1969, the company's rapid growth required new capital and Bill Kirschner decided a well-financed partner was necessary. The company was acquired by the Cummins Engine Company of Columbus, Indiana. Then in November 1976, the company was acquired by a private group of Northwest investors. The group, called Sitca, purchased K2 and its subsidiary, Jansport.
In 1982, company management purchased all outstanding shares of Sitca Corporation from the group of Northwest investors. Management decided to concentrate all resources on the alpine ski market. It sold its Jansport subsidiary, distribution subsidiaries in Canada, France and Austria, and majority ownership of the Swiss distribution subsidiary
In September 1985, Anthony Industries, Inc. acquired 100 percent of the stock of Sitca Corporation. Anthony, an NYSE listed company, develops and manufactures products for leisure and recreational markets under many brand names.
In 1995, Anthony Industries sold off its Anthony Pools division to its rival, Sylvan Pools, and changed its name to K2, Inc. By 2000, board member Richard Heckmann had assumed control and embarked on a vigorous growth program. In order to remain financially competitive, in 2001 K2 moved its manufacturing from Vashon Island to Guangzhou Province, China, and its offices to Seattle. On June 22, 2006, K2 announced it was moving its business office from Vashon Island to Seattle's Industrial District.
On April 25, 2007 Jarden Corporation announced a definitive agreement to acquire K2, Inc. for a cash and stock value per share of $15.50. Jarden is controlled by Martin Franklin, a British investor and triathlete. It is now owned by Newell Brands
Product lines
It is important to note that while there is some overlap in the companies that K2 owns (e.g. K2 also owns Line, which compete directly with K2's self-branded skis), the separate companies retain control of their respective product lines. For all intents and purposes, they are completely different companies.
K2 Branded Product Lines
Other Brands
Footwear
Apparel
Adio
Adio Footwear was a skateboarding footwear and clothing company, founded by skater Chris Miller in 1999. It was later acquired by K2, based in Carlsbad, California, United States (US); K2 was then acquired by the Jarden Corporation in 2007. Its name is pronounced "audio" or "ad-e-o".
In its early years the company sponsored the Adio Footwear professional skateboarding and snowboarding team.
Industry veteran, Jim Stroesser, was named president of Adio in December 2009. Stroesser moved the brand's global headquarters from Vista, California, US. to Solana Beach, California, US, in January, 2010.
As of 2012, Adio is owned by K2, a division of the Jarden Corporation, while AL&S and Samsung own the global license for Adio. The brand continues to manufacture and distribute skateboarding footwear and apparel.
Team members as of 2004 included Shaun White, Jeremy Wray, Ed Selego, Nick Dompierre, Danny Montoya, Bam Margera, Brian Sumner, Kenny Anderson, Alex Chalmers and Steve Nesser. In a recent interview in October 2015, ex-member Tony Hawk announced he no longer has a shoe sponsor.