The deal will 'expand circulation and deepen the range of styles provided.'
DENVER — Navajo Inc., maker of the Piranha eyewear brand, has acquired Maxx HD Sunglasses, a Colorado-based national distributor of sports, motorsports and NCAA-licensed sunglasses.
Financial terms of the deal were not disclosed.
The integration of Maxx HD into the Navajo organization will expand circulation and deepen the range of styles provided to current customers, according to a press release.
"Maxx covers the specialty sports and activities channel well, and we cover the mass-market well," said Deborah Abreu, vice president of business development at Navajo. "We think they'll provide balance to our existing lines and boost our visibility. It's a perfect fit. They're a well-recognized brand with a premium price point in a strong market. Their online presence is good, and we're ready to broaden our channels of distribution."
Maxx HD was established over 20 years ago by Rick and Nancy Millner.
This is the second acquisition in three months for Navajo, with the first being Cashco back in December. The focus is on cornering new markets, said Mark Deuschle, president of Navajo.
"This is a one plus one equals three situation," he said. "Maxx HD brings something new to the table in areas where we can serve new shoppers in both our current retail partners and their new channels. Both acquisitions drive our growth and development in the direction our consumers need."
Navajo is the designer, manufacturer and distributor of not only Piranha Eyewear but also Hottips! Electronics Accessories, Pennzoil Automotive Supplies and Salute Barware. It is also the largest distributor of trial and travel size health and beauty products in the U.S.