Continuing its habit of acquiring complementary brands, a Richmond-based golf gear maker has added big umbrellas to its repertoire.
Dynamic Brands, which specializes in accessories such as golf bags, towels and club walking carts, last month acquired Haas-Jordan, an Ohio-based umbrella manufacturer.
The deal closed June 23 for an undisclosed amount. Talks began in March and resumed in mid-May.
“You don’t always have the opportunity to purchase an industry-leading brand, and so when you do, you have to really jump on the opportunity,” said Leighton Klevana, Dynamic Brands CEO.
Klevana said the company was attracted to Haas-Jordan’s ability to make branded umbrellas, which mesh well Dynamic’s Devant Sport Towels business. Companies can stamp their brands on towels and umbrellas at the same time.
“This is a business we think is going to grow quite rapidly,” Klevana said, adding that Haas-Jordan has a strong reputation with buyers such as country clubs.
Klevana said he’s not sure why Haas-Jordan’s owners wanted to sell, but he noted that the business had been in the family for generations, and the current owners weren’t as familiar with the golf business.
“There were probably some challenges over the last couple years, and frankly, that’s consistent with a lot of the golf businesses,” Klevana said. “Golf, up to this year, has been a challenging business.”
Golf participation is surging during the pandemic since it’s one of the few sports that allows for easier social distancing, Klevana said.
Haas-Jordan’s golf umbrellas are distinct because of their size, usually 62-68 inches instead of the 30-50 inches of standard rain umbrellas, and vents that let wind pass through so the umbrella doesn’t flip out or invert.
Among the changes Dynamic Brands has in mind for Haas-Jordan is to slim down and simplify its offerings.
“Simplifying things doesn’t always mean that you’re making it less attractive,” Klevana said. “When you look at the Haas-Jordan line right now, there are so many different models. I think while they all serve a purpose, if you reduce the number of SKUs (stock keeping units) that they’re carrying, it really actually would be more attractive to the buyer.”
Dynamic Brands sells primarily to country clubs and retailers such as Dick’s Sporting Goods and Amazon, though it dabbles in direct-to-consumer sales through its website. Its main competitors include Sun Mountain Sports and Clicgear.
The company is no stranger to acquisitions, as it landed ball retriever brands Search ’N Rescue and I Gotcha in 2017 and 2015, respectively. Klevana said Dynamic Brands is open to future acquisitions.
Dynamic Brands, founded in 2004, is based at 2701 Emerywood Parkway near West Broad Street and Glenside Drive. Haas-Jordan joins its list of brands, including Bag Boy, Burton, Datrek, Devant Sport Towels, Flagpole-To-Go, I Gotcha and Search ’N Rescue.