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Article

Lifetime Products Acquires Dragonfly Innovation and Kayak Products

May 4, 2010

CLEARFIELD, UTAH – Lifetime Products, Inc. – a worldwide Utah-based manufacturer of folding tables and chairs, sporting goods equipment, outdoor storage sheds and lawn and garden products – announced today that it has acquired the assets of San Bernardino CA-based Dragonfly Innovation, Corp., adding the company's innovative kayaks to Lifetime’s own lineup of sporting goods products.

“This is an investment in Utah manufacturing and Utah jobs.” said Richard Hendrickson, President of Lifetime Products. “Acquiring Dragonfly Kayaks allows us to add to our lineup of made in the USA products, and to enter the water sports arena opening us to an entirely new, yet complementary, sporting goods industry.”

Lifetime has agreed to purchase all of Dragonfly Innovation’s assets, including its intellectual property, trademark portfolio, manufacturing equipment, inventory and its retailer contracts. Now, kayak products previously distributed by Dragonfly Innovation will be manufactured at Lifetime’s headquarters and manufacturing facility in Clearfield, Utah. Because of their large size and resulting freight costs, kayaks are not economical imports. Acquisition of the company will assist in keeping jobs in the United States and Utah. Branding of the kayaks is to be determined.

 “We look forward to bringing further innovation in both the packaging and distribution to make the kayaks widely available and easy to buy,” said Hendrickson, “much like we have done with our other industry-transforming products.”

Thomas Eckert, President of Dragonfly Innovation will be joining the Lifetime team and will play a key role in the transition and new category development. Founded in 2005, Dragonfly products are uniquely designed to provide the everyday consumer with innovative, affordable, quality kayaks and accessories. Dragonfly kayaks cater to recreational beginners in kayaking. Available in a variety of sizes and designs including both youth and adult sizes, all Dragonfly kayaks are designed to prevent flipping. In addition, some models include molded carrying handles, paddle holders, and watertight storage.

At some of the most affordable price points in the industry, Dragonfly kayaks are available nationally at Wal-Mart.com, Dicks Sporting Goods, Sports Authority, Fred Meyer, as well as internationally in Mexico and Australia.

This kayak product addition will complement Lifetime’s Sporting Goods lineup, which currently includes basketball systems, soccer goals, and a tetherball set. This new addition also comes after Lifetime’s acquisition of Jumping Jack Trailers Inc. in 2008 and their line of tent trailers which can be configured to carry kayaks, creating another great product synergy.

For more information, please contact Lifetime Public Relations at pr@Lifetime.com.

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About Lifetime Products: Established in 1986, Lifetime Products, Inc. is a privately held company headquartered in Clearfield, Utah. Lifetime Products is the world's largest manufacturer of blow-molded polyethylene folding tables and chairs, and residential basketball hoops. With products sold in 58 countries, Lifetime has been manufacturing in Utah for more than 25 years and employs 1,250 people in its Clearfield facility, and more than 2,075 people worldwide. For more information about Lifetime Products, Inc. and its products, visit www.Lifetime.com.