Bauer hits homerun with Easton acquisition
Sporting equipment and apparel manufacturer Bauer Performance Sports expanded its product offering in the baseball and softball world with the acquisition of those businesses from Easton-Bell Sports.
Bauer agreed to pay Easton-Bell Sports $330 million for Easton’s baseball and softball business in a deal that adds the well known Easton brand to Bauer’s existing stable of brands such as Bauer, Mission, Maverik, Cascade, Inaria and Combat.
Bauer characterized the deal as transformative and said it gives the combined company pro-forma sales of $586 million for the year ended December 31.
"The combination of the number one brand in hockey and the number one brand in diamond sports is a perfect example of our ability to enhance our performance sports platform," said Kevin Davis, president and CEO of Bauer Performance Sports. "Our existing business is built on a heritage of investing in game-changing research and development, intellectual property, authentic brands and strong consumer connections. The Easton baseball (and) softball business is a perfect fit for our overall platform."
As a result of the acquisition, Bauer will own the Easton brand and the Easton baseball and softball business while Easton-Bell Sports will retain the Easton Hockey and Easton Cycling businesses. Plans call for Bauer to enter into a license agreement to permit Easton-Bell Sports to use the Easton name in hockey and cycling only. No other businesses from the Easton-Bell Sports portfolio are included as part of deal.
"The addition of Easton baseball (and) softball will increase our growth potential and deliver immediate value to our shareholders," Davis said. "Just as we have done in our hockey business, we expect to increase Easton's current 28% market share in diamond sports by accelerating investment in product development and more strongly connecting with consumers. Like the entire (Bauer Performance Sports) organization, Easton baseball (and) softball has a passion for improving the performance of athletes, and we fully expect to raise the bar of innovation in diamond sports with this acquisition."