EX OFFICIO CHANGES HANDS.(apperals buyout)(Brief Article)

Daily News Record, May, 2004 by Lloyd, Brenda

Byline: BRENDA LLOYD

ATLANTA -- K2 Inc., the Carlsbad, Calif.-based outdoors company named for the second-highest peak in the world, is making a commitment to apparel with its acquisition of Ex Officio from The Orvis Co.

Ex Officio, also known for its Buzz Off line of insect-repellent apparel, was sold in an all-cash transaction for an undisclosed amount last week. Rick Hemmerling, founder of Ex Officio, will remain as president. Because of the seasonality of Ex Officio's product lines, the transaction is expected to be neutral to earnings in 2004 but accretive in 2005.

Said Richard Heckmann, chairman and chief executive officer of K2 Inc., "Ex Officio represents the first step in our move to build an outdoor apparel platform that will...

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