NEW YORK, June 12, 2012 /PRNewswire via COMTEX/ --
Authentic Brands Group (ABG) has added to its ever-expanding portfolio of companies through its recent acquisition of the intellectual property of Sportcraft Ltd. ABG-Sportcraft now holds ownership of all trademarks, copyrights and patents of the Sportcraft and Classic Sport brands, the leading brands in recreational sports and family fun. Joining the likes of Marilyn Monroe and TapouT as ABG properties, Sportcraft's product offerings include billiards, darts, foosball, table tennis, air hockey, badminton, ladderball and much more.
"Sportcraft has done an incredible job in creating reliable product and a trusted brand name over the past 90 years," says Nick Woodhouse, CMO of ABG. "We now have the opportunity to take a brand that has given joy to families worldwide and bring it to the 21st century."
Modernizing the Sportcraft brand includes plans to bring their line of physical games to the mobile platform. "Sportcraft's comprehensive product collection is primed to seamlessly transition to mobile games," says Jamie Salter, CEO of ABG. "Interactive Sportcraft mobile applications will give consumers a whole new way to enjoy recreational sporting products." In addition to building a mobile platform, ABG will also look to expand to the general sporting goods category.
In 2011, Sportcraft realized over $126 million in wholesale revenues, approximately 80% of which was to large blue-chip retailers in North America. Estimated retail sales in 2011 were in excess of $200 million. ABG intends to pursue license opportunities throughout the world for Sportcraft and Classic Sport's extensive line of table, dart and lawn and outdoor games.
Through longstanding relationships with leading mass-market retailers, Sportcraft is the premier brand in the home recreational sporting goods market. With ABG's experience in the licensing industry and relationships with best in class partners, the Sportcraft brand is poised to continue its dominant market share in current product categories and expand its presence in unchartered territories.
The Sportcraft deal is ABG's fifth acquisition since the company was founded two years ago. According to Jamie Salter, "Sportcraft is the next step in building ABG as a broad-based licensor with attractive brands in action sports, iconic personalities, consumer products and media and entertainment."
For licensing inquiries: Noah Gelbartngelbart@authenticbrandsgroup.com
For press inquiries: Adam Kronengoldakronengold@authenticbrandsgroup.com
Authentic Brands Group, in partnership with Leonard Green & Partners, is an intellectual property corporation with a mandate to acquire, manage and build long-term value in prominent consumer brands in apparel, sporting goods, action sports, home, celebrity, entertainment and consumer electronics categories. They enhance brand equity through partnerships with best-in-class licensees and direct-to-retail arrangements. ABG holds Marilyn Monroe, TapouT, Silver Star and heritage brand collection of Iron Star, Hitman Fight Gear and Sinister brands. For more information, please visit http://www.authenticbrandsgroup.com .
The company manufactures various indoor and outdoor games such as dart boards, pool, badminton, and horseshoes, as well as fitness and sporting equipment like treadmills, elliptical machines, and soccer goals. The company sells its products through major retailers including Kmart, Target, and Wal-Mart. Founded in 1926 by Walter Holdstein, Sportcraft is based in New Jersey but operates warehousing and distribution centers in Chicago, Los Angeles, Toronto, and Hong Kong.
SOURCE Authentic Brands GroupCopyright (C) 2012 PR Newswire. All rights reserved