BRG Sports Sells Easton Hockey to Chartwell Investments
Deal Marks the Exit of the Easton Brand from the Company’s Portfolio
BRG Sports Continues Focus on Growing and Reinvesting in Action Sports and Football Brands
SCOTTS VALLEY, Calif.--(BUSINESS WIRE)--BRG Sports, Inc. (“BRG Sports” or “the Company”), announced today that Chartwell Investments, a New York-based private investment firm, has partnered with senior hockey management to acquire its Easton Hockey business. Terms of the transaction were not disclosed.
“Our recent acquisition of C-Preme underscores our plans to reinvest in BRG Sports’ core strengths in helmets, protective gear and related accessories, while continuing our market-leading innovation and product excellence.”
The sale of Easton Hockey officially marks the departure of the Easton brand from the BRG Sports portfolio. This deal was preceded by a series of transactions involving the Easton businesses that commenced earlier this year. In April, the Company completed the sale of its Easton Baseball/Softball business to Performance Sports Group and announced the sale of its Easton Cycling business to industry veteran Chris Tutton, which was completed in June. In May, BRG Sports acquired C-Preme Ltd., a leading designer and developer of protective helmets and sporting goods for children, teens and adults. The Company also transitioned from Easton-Bell Sports to BRG Sports as part of the anticipated completion of the Easton transactions.
“The Easton Hockey sale is the culmination of many significant events for our Company, all positioning us to begin an exciting new phase in the evolution of our brands as we move forward with a sharp focus on our Action Sports and Football businesses,” said BRG Sports Executive Chairman and CEO Terry Lee. “Our recent acquisition of C-Preme underscores our plans to reinvest in BRG Sports’ core strengths in helmets, protective gear and related accessories, while continuing our market-leading innovation and product excellence.” Lee continued, “We are confident that with Chartwell’s guidance and passion for this business, Easton Hockey will continue to push the limits in their sport and achieve great success.”
With this deal, Chartwell appointed former Bell Sports CEO and current BRG Sports board of director member Mary George as CEO of Easton Hockey. Matt Arndt will continue in his role as President and General Manager of the business.
Ropes & Gray, LLP acted as legal advisor to the Company in connection with the transaction.
About BRG Sports
BRG Sports is a leading designer, developer and marketer of branded sports equipment, protective products and related accessories. The company markets and licenses products under such well-known brands as Bell, Riddell, Giro, Blackburn, Raskullz, Krash! and BULT. Its products incorporate leading technology and designs and are used by professional athletes and enthusiasts alike. Headquartered in Scotts Valley, California, the company has 27 facilities worldwide. More information is available at: www.brgsports.com.