HELSINKI (BRAIN) — Amer Sports, the owner of Mavic and several other outdoor sports brands, has added to its ball sports division with the purchase of the Louisville Slugger brand.
The Helsinki-based company has agreed to buy the baseball brands from Hillerich & Bradsby Co. for $70 million. Louisville Slugger's 2014 sales were $75 million. The agreement is subject to H&B shareholder approval and the customary closing conditions; closing is expected in the second quarter of this year.
"The acquisition of Louisville Slugger contributes to our objective to accelerate profitable growth in our Ball Sports unit," said Amer Sports' president and CEO, Heikki Takala. "The acquisition improves and strengthens our baseball and softball portfolio with wood bats and patented innovations in non-wood bats, as well as fielding gloves, bags, protectives and accessories. We will realize important operational scale and synergy benefits as well as opportunities to further leverage the Louisville Slugger brand. We are proud to become the home for another iconic consumer brand, and we look forward to building it toward an even greater future."
Amer already owns Wilson, which sells baseball gloves, bats, uniforms, apparel, protective gear, accessories, and player development equipment and training tools through its Wilson, DeMarini and ATEC brands. Amer said Wilson will market and sell Louisville Slugger as a stand-alone brand, like its DeMarini brand. Under the terms of the agreement, H&B will manufacture all Louisville Slugger-branded MLB, Minor League Baseball, amateur player and souvenir wood bats for Wilson. H&B will continue to manufacture wood bats at the company's downtown Louisville factory.
