Vitec Group, owners of popular brands like Manfrotto, Gitzo, Avenger, and Lastolite, has acquired Joby and Lowepro brands from the DayMen group. The deal is valued at $10.3 million. This brings Joby’s popular GorillaPod flexible tripods along with the world famous Lowepro camera bags under Vitec’s stables.
According to Vitec Group Chief Executive Stephen Bird, “Vitec is the natural home for JOBY and Lowepro and we know the business well. This is an opportune time to buy these high profile, high quality brands: JOBY has been growing rapidly, reflecting its success in developing innovative new products for the camera accessories market, while Lowepro represents an opportunity to improve margins through cost reductions and integration with Manfrotto, along with the potential for additional benefits as its markets improve.”
The acquisition consolidates Vitec’s position as a leader in high-quality photography accessories.