Letter from K2 to King County

King County Executive and Council Members:
It is publicly known that, in the near future, K2 Sports intends to close on the sale of its original factory buildings and property on Vashon Island. The purpose of this letter is to reaffirm our commitment to the vibrant community of Vashon Island where K2 Sports was founded more than 50 years ago. Despite the fact that we moved the business off the island, K2 Sports is legally and morally bound to take responsibility for adverse impacts on the environment, when those impacts are identified by state or federal agencies with appropriate jurisdiction.

Since the factory opened its doors in 1963, K2 Sports has always been a responsible member of the Vashon Island community and has never attempted to sidestep any appropriate requests regarding our environmental stewardship of the property. This commitment is evidenced by actions taken to test and address environmental liabilities and ensure that the structures on the property have not become dilapidated or blighted the island landscape.

After being on the market since 2006, a company called Bakkhos Holdings, LLC offered to acquire the property late last year. Many parties have been interested in acquiring the property over the years and several deals have fallen through. Bakkhos Holdings, LLC is the most sophisticated and capable buyer we have worked with since the property was vacated and we are pleased to have accepted their offer.

K2 Sports has not asked Bakkhos Holdings, LLC or any buyer, for that matter, to indemnify the company against future liability from any existing environmental conditions at the property. Such an indemnification would not be aligned with K2 Sports’ moral responsibility to the Vashon Island community where many of our employees and their families reside to this day. Moreover, such an indemnification clause in a private contract would not prevent government authorities from imposing liability on K2 Sports.

The State of Washington, Department of Ecology (DOE) has requested additional steps be taken in connection with K2 Sports’ voluntary action to decommission a 300-gallon oil tank at the site in 2008. K2 Sports has contacted the DOE to advise them that all appropriate action would be taken to secure a No Further Action required determination from their department. The potential sale of the property, to any buyer, in no way bypasses K2 Sports’ responsibility to resolve this matter.

K2 Sports and its parent company, Jarden Corporation, have not and will not turn their backs on the very community that has such an important place in the history of the company and the lives of its employees. We will remain the responsible party of record should it ever be determined that our actions from 1963 to the current day have caused environmental contamination which requires cleanup pursuant to state and federal laws.
Best Regards,

Anthony De Rocco
President and CEO, K2 Sports