Business Description

We are a leading provider of outdoor lifestyle products and shooting sports accessories encompassing hunting, fishing, meat processing, outdoor cooking, shooting, and personal security and defense products for rugged outdoor enthusiasts. We conceive, design, produce or source, and sell our outdoor lifestyle products, including: • premium sportsman knives and tools for fishing and hunting; • land management tools for hunting preparedness and for use in the backyard; • products used while hunting; • meat processing equipment; and • outdoor cooking products. We conceive, design, produce or source, and sell our shooting sports accessories, including: • rests, vaults, and other related accessories; • electro-optical devices, including hunting optics, firearm aiming devices, flashlights, and laser grips; • and reloading, gunsmithing, and firearm cleaning supplies. We focus on our brands and the establishment of product categories in which we believe our brands will resonate strongly with the activities and passions of consumers and enable us to capture an increasing share of our overall addressable markets. Our owned brands include BOG, BUBBA, Caldwell, Crimson Trace, Frankford Arsenal, Grilla, Hooyman, Imperial, LaserLyte, Lockdown, MEAT! Your Maker, Old Timer, Schrade, Tipton, Uncle Henry, and Wheeler, and we license additional brands for use in association with certain products we sell, including M&P, Smith & Wesson, and Performance Center by Smith & Wesson. In focusing on the growth of our brands, we organize our product development, customer service, and marketing teams into four brand lanes, each of which focuses on one of four distinct consumer verticals – Adventurer, Harvester, Marksman, and Defender – with each of our brands included in one of the brand lanes. Our brand lane structure allows us to efficiently leverage talent, expertise, and resources across multiple brands while maintaining a strong focus on the unique needs of each consumer vertical. This approach provides the benefits of dedicated brand support in a more scalable and cost-effective manner than maintaining separate teams for every individual brand. Our sales activities are focused on how we go to market within the e-commerce and traditional distribution channels. These two channels involve distinct strategies intended to increase revenue and enhance market share by placing our products where the consumer expects to find them. Our sales team is built around the two distribution channels and is organized into product categories and regions within the e-commerce and traditional channels and sells our products across all of our brands. We measure our success through sales performance in these distribution channels against prior results and our own expectations. Our objective is to enhance our position as a leading provider of high-quality and innovative outdoor lifestyle products and shooting sports accessories for the hunting, fishing, outdoor cooking, shooting, personal security and defense, and other rugged outdoor markets and to expand our addressable market into carefully selected new product arenas. Key elements of our strategy to achieve this objective and deliver long-term stockholder value are as follows: • introduce a continuing stream of innovative new and differentiated rugged outdoor products and product extensions that appeal to consumers; • leverage our innovation advantage to gain market share, enter new product categories, enter new consumer markets, and expand distribution; • cultivate and enhance consumer relationships through our digital platforms; • expand and diversify our supply chain; • maintain an asset-light operating model that is designed to be agile; and • pursue acquisitions that financially and strategically complement our current business. 6 We believe that throughout our history, we have been able to utilize our understanding of consumer needs to develop and introduce innovative new disruptive products with strong intellectual property protection that have continually increased our market share in their product categories, such as our Caldwell ClayCopter, which we believe represents our entry into the consumable targets market within the shotgun sports category. We have enhanced our product development capabilities, developed a multi-faceted marketing approach, improved our multi-channel distribution platform, and expanded and diversified our business through organic growth and strategic acquisitions.…