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ACQUISITIONS
 9 Months Ended
Sep. 27, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
ACQUISITIONS ACQUISITIONS
Mystery Ranch Acquisition

On February 2, 2024, we completed the acquisition of all of the equity interests of Mystery Ranch, LLC (“Mystery Ranch”), a designer and manufacturer of durable load-bearing backpacks, bags, and pack accessories. The total purchase price consideration was $36.2 million, net of a working capital adjustment and cash acquired of $2.1 million. We have integrated Mystery Ranch operations and products into our business to further expand our capabilities in our bags category. The acquisition was funded with cash on hand.

We accounted for the acquisition as a business combination using the acquisition method of accounting which requires, among other things, assets acquired and liabilities assumed be recognized at fair value as of the acquisition date. The purchase price allocation is complete and based upon valuation information available to determine the fair value of certain assets and liabilities, including goodwill.

The following table summarizes the final amounts recorded for acquired assets and assumed liabilities at the acquisition date (in thousands):

Cash$2,051 
Accounts receivable, net4,332 
Inventory(1)
17,414 
Prepaid expenses and other current assets3,299 
Property and equipment512 
Operating lease right-of-use assets1,087 
Goodwill18,014 
Intangible assets
5,500 
Total assets acquired52,209 
Current liabilities$(13,240)
Non-current liabilities(753)
Total liabilities assumed
(13,993)
Net assets acquired$38,216 
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(1)Includes a $4.8 million step-up of inventory to fair value, which was expensed as the related inventory was sold.
The goodwill recognized is attributable to the expansion of our backpack and bag offerings and expected synergies from integrating Mystery Ranch’s products into our product portfolio. The goodwill will be deductible for income tax purposes. The intangible assets recognized consist of a tradename and customer relationships and have useful lives which range from 8 to 15 years.

Pro forma results are not presented as the impact of this acquisition is not material to our consolidated financial results. The net sales and earnings impact of this acquisition was not material to our consolidated financial results for the three and nine months ended September 27, 2025.

Other Acquisitions

During the first quarter of 2024, we acquired substantially all of the assets of Butter Pat Industries, LLC (“Butter Pat”), a designer and manufacturer of cast iron cookware. The acquisition of Butter Pat expanded our capabilities in the cookware category, as shown by the launch of our new YETI-branded Cast Iron Skillet during the third quarter of 2024. This transaction was accounted for as an asset acquisition and is not material to our consolidated financial statements.

During the fourth quarter of 2024, we acquired powered cooling technology patents for $32.5 million in cash to develop a unique powered cooler platform. This transaction was accounted for as an asset acquisition.

During the third quarter of 2025, we acquired certain assets, including designs, tooling, and intellectual property, related to the Helimix branded shaker bottle for $38.0 million in cash. This transaction was accounted for as an asset acquisition. In connection with this acquisition, we recognized trademarks, patents, and tooling for $26.2 million, $9.4 million, and $2.4 million, respectively. The acquired trademarks and patents are being amortized on a straight-line basis and have weighted average useful lives of 15 and 9 years, respectively.