For decades, Grey Owl Paddles has been a fixture in canoes across Canada. Now, as the brand marks its 50th anniversary, it’s found a new home. The acquisition is the perfect off-season match to complement an already thriving hockey stick manufacturing business, says new owner W. Graeme Roustan, executive chairman of Roustan Sports Ltd.
Grey Owl Paddles set for expansion under new ownership
“Here was the challenge: Hockey is a winter sport, so six months of the year, we were very busy making hockey sticks. But the other six months, we were slow,” Roustan says. Roustan Sports is the only commercial manufacturer making hockey sticks domestically in Canada or the U.S. and produces more than 250,000 sticks annually.
Grey Owl Paddles was founded by canoeist Brian Dorfman in 1975. He started the company in his garage after he’d fled the suit-and-tie life of Bay Street. After being an industry stalwart for decades, Dorfman, now 80 years old, began searching for a buyer for Grey Owl two years ago. The hockey stick and paddle businesses were already acquainted, having once shared wood—and even employees—when both operated in the Ontario city of Cambridge.
Roustan is no stranger to dealmaking. A former Wall Street banker, he led a group that acquired Bauer Hockey from Nike for $200 million in 2008.
“Two years ago, I sat down with Brian and I said, ‘I hope I’m worthy.’ And he said to me, ‘I’ll talk to your employees. I’ll talk to your suppliers. I’ll think about it,’” says Roustan. Dorfman waited until Grey Owl’s milestone anniversary before retiring.
Roustan officially took over Grey Owl on July 1. “I’m going to do my very best to continue on the legacy of Brian and his life’s work,” says Roustan. Dorfman remains involved as an advisor.
Roustan spoke with Paddling Magazine in early August, just four days after the first paddle was made in Roustan’s 130,000-square-foot mega-factory in Brantford, Ontario. Relocating Grey Owl’s specialized equipment to the nearby city cost half a million dollars, says Roustan. The price of the sale was not disclosed. Consolidating operations eliminates much of Grey Owl’s overhead, and because Roustan Sports buys wood in greater volume for its hockey sticks, Roustan anticipates substantial cost savings on materials.
In 2024, Grey Owl made more than 30,000 paddles. In the first 12 months after acquiring the business, Roustan aims to make 50,000 paddles, with plans to double that within three years. Roughly half will go to the 145 dealers worldwide, with the other half sold direct to consumer (DTC).
DTC will be new for the brand, which recently launched a Shopify-powered site on greyowlpaddles.com. Of the 7,000 paddles in acquired inventory, 4,000 were sold in July, says Roustan, mostly direct to consumers, boosted by advertising in The Hockey News magazine and website, where Roustan is the owner and publisher.
This isn’t Roustan’s first foray into launching DTC. In 2019, he launched stix.com, selling hockey sticks online. To overcome retailer concerns about DTC, his model used the postal codes from online buyers to assign commissions to his dealer network.
He plans to do the same with paddles, supporting dealers while embracing DTC. His message: DTC isn’t going away, but retailers can still win.
“There has to be a new model where we share in the opportunities because the dealers are our partners. It has to be a two-way, win-win partnership, or else it doesn’t work,” says Roustan.
It’s a model he believes will help Grey Owl build on its 50-year legacy. “When kids put a hockey stick in their hand, a smile goes on their face. When someone has a paddle and they’re in a canoe, it puts a smile on their face,” says Roustan. “We live in a time when not too many smiles are going around. I’m in the business of putting smiles on people’s faces. It’s a privilege.”
This article was first published in the 2025 issue of Paddling Business. He shoots! he scores! Roustan Sports Ltd. Chairman W. Graeme Roustan acquired Grey Owl Paddles in the brand’s 50th year. | Feature photo: Patrycja Hyrsz
