**Confidential Memo**

From: Meridian Outdoor Co. — Strategy Team

Date: 2026-01-15

Subject: FY2026 M&A Targets



# **Background**

This memo outlines three acquisition targets under evaluation for FY2026. Distribution is restricted to the strategy team and the board of directors. Do not share outside the approved distribution list.


# **Targets**


| Target | Category | Indicative valuation |
| --- | --- | --- |
| Alpinista | Premium outerwear | $18M |
| Ridgeline | Ultralight gear | $11M |
| Basecamp Co. | Mass-market | $42M |



# **Recommendation**

The strategy team recommends prioritizing Ridgeline as the primary target, with Alpinista as a secondary option. A full diligence workplan will be presented at the next board meeting.