Manfrotto Owner Vitec Has Acquired Lowepro And JOBY For $10.3 Million In Cash
by Damien Demolder
DP Review.com News ISBN/ITEM#: CM170926LOWEPRO
Date: 26 September 2017
Links: DP Review.com Article /
Call us flabbergasted at hearing that the Vitec Group, which owns Manfrotto and Gitzo, has just acquired JOBY and Lowepro from the Dayman Group for $10.3 million in cash.From release/information:
Vitec Group, the company that owns camera accessory brand Manfrotto, has just added two other major brands to its stable: JOBY and Lowepro. Vitec bought the brands from the Dayman Group, bringing them into its already sizable photo equipment portfolio.
Vitec already owns a large collection of brands that operate across the stills and video markets, selling everything from bags, to tripods, to light stands, camera cages, batteries, lighting, and video monitors. Well-known Vitec-owned names include Gitzo, Lastolite, Wooden Camera, Colorama, Litepanels, and SmallHD.
This acquisition brings the GorillaPod flexible tripod series of camera and mobile supports under Vitec's control, along with Lowepro's massive range of bags, cases, and pouches.
It’s difficult to see what the purchase of either business brings that's new to Vitec, as the company already has products in almost all the areas JOBY and Lowepro already supply. It will inevitably reduce the company's competition though, and as the press release says it will strengthen Vitec's position as a global supplier. Vitec also says that the purchase, particularly of Lowepro, will give it better access to certain markets (such as the USA) in which it needs a better hold, and that it expects to enjoy better relationships with Apple, Amazon, and B&H Photo because of the deal.
(Source: DP Review.com)
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