Truck Hero Acquires Backrack Truck Racks
Truck Hero Inc.‘s latest strategic acquisition is Backrack LLC, a manufacturer of heavy-duty truck racks. Transaction terms were not disclosed.
“We are excited to welcome the Backrack team to the expanding Truck Hero family of brands,” said Bill Reminder, president and CEO of Truck Hero.
Mike Cunningham, who has led Backrack for more than 11 years, will continue to serve as the brand’s general manager.
“Backrack is the most recognized and trusted brand for pickup truck cab protection racks and adding the Backrack brand to the Truck Hero portfolio broadens our ability to meet the needs of today’s demanding pickup truck owner,” Reminder said. “Since their beginning, Backrack has been dedicated to designing and manufacturing the highest quality and most durable line of truck bed racks that provide superior protection and increased truck bed functionality.
“Our product lines are highly complementary and we look forward to further building the Backrack brand by leveraging our sales and marketing experience and installer relationships,” Reminder added.
This transaction marks Truck Hero’s 14th acquisition since its formation in 2007. A company press release described the transaction as well aligned with the its growth strategy of acquiring businesses within the vehicle accessory market that further diversify its product portfolio into other complementary, high-growth segments.