Hydro Flask CEO speaks on company’s sale, expansion
In just seven years, the Bend-based company Hydro Flask, went from being sold out of a pickup truck to being sold for nearly a quarter billion dollars.
Hydro Flask, the Bend-based maker of high-performance, insulated stainless steel flasks, announced Monday it will be acquired by a subsidiary of Helen of Troy, a leading global consumer products company that said it was paying $210 million for the business.
“We’re excited to be a part of a company with other brands like OXO and PUR. We’ve learned a lot about the OXO team. We’ve learned how they’ve grown from a small company to a much larger company,” said Hydro Flask CEO Scott Allan.
While there will be many changes, Allan said the company’s purpose remains the same: Save the world from lukewarm beverages.
“It’s nothing but great news for us. It means we have more resources, more backing more access to talk with folks who have been through this process before,” said PR Manager Lucas Alberg.
Hydro Flask will continue to be based out of Bend. The company is currently expanding its Bend headquarters in Northwest Crossing, which they hope to open in September. All 52 Hydro Flask employees will remain on board and about 20 more employees will join the staff by the end of the year.
“Outdoor enthusiasts love Hydro Flask’s products as well as its genuine brand heritage rooted in the outdoor mecca of Bend, Oregon. The company is led by a group of passionate end users who we look forward to working with and welcoming into our family,” said Helen of Troy CEO Julien Mininberg.
The acquisition of Hydro Flask comes on the heels of a tremendous year of growth and recognition for the Bend company. In 2015, Hydro Flask landed on theInc. 500 List of Fastest-Growing Private Companies for a second year in a row and was named as one ofPortland Business Journal‘s Fastest-Growing Private 100 Companies in Oregon and was named REI’s Action Sports Vendor Partner of the Year.
Helen of Troy, which started as a wig store in El Paso in 1968, still has its U.S. corporate headquarters in El Paso. It has more than 1,600 employees and 2015 revenues of $1.45 billion.
The company said it “maintains a strong portfolio of well-recognized and trusted household brands, including OXO, PUR,Revlon, Honeywell, Vicks, Braun and others,” in brand categories from housewares to health care.
About Hydro Flask
Hydro Flask is the award-winning global leader in high-performance, insulated stainless steel flasks. Founded in 2009 in Bend, the company’s products use Pro Grade 18/8 stainless steel and the company’s unique Temp Shield Insulation™, Hydro Flask food and beverage flasks are BPA-free, recyclable and backed by a lifetime warranty. Hydro Flask customers can allocate a portion of the net profit of their purchase to a charity. Learn more about Hydro Flask’s charitable giving athttps://www.hydroflask.com/5-back.
