Pelican International, which owns Confluence Watersports brands Wilderness Systems, Dagger, Perception, Advanced Elements, Boardworks, Mad River Canoe, and GSI Outdoors, is filing—and fighting—to keep its head above water financially.
On February 28, 2025, Pelican International Inc. filed a notice of intention to make a proposal pursuant to Section 50.4 (1) of the Bankruptcy and Insolvency Act (“BIA”) in Canada and KPMG Inc. has consented to act as Trustee. While the company declined to comment on the filing, in a FAQ statement on its website it posted, “Like many businesses, we have faced challenges in the post‐COVID economy, including rising costs, US tariffs, supply chain disruptions, and significant shifts in market demand. In the best interests of our employees, customers, suppliers and creditors, we have made the difficult but proactive decision to seek protection under the BIA.” Pelican stressed that the filing does not signal bankruptcy but is instead a “proactive decision to seek protection under the BIA.”
The move, it continues, was made to keep its business afloat while reorganizing. “This step aims to ensure business continuity while developing and implementing a restructuring plan.” It adds, “This legal process has been initiated by Pelican. It is important to note that Pelican retains full control over its operations and daily affairs.”
The BIA is a Canadian federal law that allows businesses to restructure their financial affairs. It grants the company the time and stability needed to restructure. The statement added that at this stage the U.S. subsidiaries are not subject to proceedings under the BIA, but that Pelican is evaluating the possibility of seeking protection for its U.S. subsidiaries in the coming weeks. “The BIA process will allow us to restructure and strengthen the company, providing the necessary time and space to implement important adjustments for the future,” it reads.
The filing has gotten the attention of many of those in the paddlesports industry. “It is unfortunate for Pelican, but may allow some core brands to get back to what they’re known for,” said Jeff Turner, executive director of the Paddlesports Trade Coalition.
Jackson Kayak, which has been on an acquisition spree itself with the recent purchase of Werner Paddles and Eddyline Kayaks, is also attentive to the filing.
“As someone whose entire life has been in and around paddlesports, it’s an incredibly sad day when we see legacy brands and corporations who have been key players for a long standing time, file Chapter 11,” says marketing director Emily Jackson. “While it doesn’t say anything is concrete, I empathize with the situation as the market has evolved and is constantly changing. If unable to pivot or have enough boots on ground to report quickly, making the right decisions can be incredibly challenging.”
The Confluence brands, she adds, play a big role in her heart. “Brands under the Pelican umbrella have played a big part in my family’s history,” she adds. “My dad, Eric Jackson, won his first Worlds in a Dagger boat in 1993, was brand manager for most of my childhood at Wavesport Kayaks. I have a deep respect for Dagger’s approach of Paddle with the Pros and their long-standing design team. For Pelican, Wilderness Systems and the rest of the brands, it also showcases a deep need for us to continue to invest into building participation, access and diversity within paddlesports. The mission only gets harder with less companies involved.”
The filing comes after global trade insecurity initiated by the Trump administration, including trade disputes and tariffs involving the U.S., Canada, Mexico and China, as well as the still-lingering effects of Covid pandemic supply chain disruptions and inventory oversupply issues plaguing retailers.
The statement added that the company is not planning to reduce its operations and instead “aims to strengthen and restructure the company, allowing us to ensure long‐term competitiveness in the market.” It added that salaries will continue to be paid as usual, along with social benefits, insurance coverage, and vacations, which will be maintained and paid in accordance with our regular business operations.
Located in Quebec, Canada, Pelican was founded in 1968 and purchased by Gérard Élie in 1970. Pioneering the use of cost-effective thermoformed plastic in its line of pedal boats, canoes, kayaks, sleds, and motor boats, it was acquired by Christian and Antoine Élie in 1995, managers of the company since 1979. In 2019, it acquired Confluence Outdoors Inc., whose holdings included Wilderness Systems, Dagger, Wave Sports, Perception, BoardWorks, and Mad River Canoe. In 2021 Pelican acquired Advanced Elements, and added GSI to its portfolio in 2022.
(Read filing notice here: https://kpmg.com/ca/en/home/services/advisory/deal-advisory/creditorlinks/pelican-international-inc-et-al.html)