Bauer Performance Sports Ltd. has entered into a definitive agreement to acquire Inaria International, a global provider of team sports and active apparel. The acquisition will provide Bauer with full team apparel capabilities, including the design, development and manufacturing of uniforms for ice hockey, roller hockey, lacrosse, soccer and other team sports.
"The acquisition will allow us to enter the large and growing
uniform market, where we did not have the capabilities to compete
previously," said Kevin Davis, president and CEO, Bauer Performance
Sports. "This is an exciting opportunity for us as it will enable us to
become a one-stop-shop for our retail partners around the world who will
be able to rely solely on Bauer for their complete equipment and team
apparel needs for both ice hockey and lacrosse."
1999, Inaria offers full finishing and embellishment services at its
headquarters facility in Toronto and provides a full-line of team
apparel products, including pro-style jerseys, practice jerseys, socks,
warm-up suits and training apparel for both youth sports programs and
the most elite-level teams. Named after the Italian soccer phrase "in
the area," Inaria began its business with a focus on soccer uniforms and
products and quickly established itself as a growing soccer apparel
brand. The company's expertise in developing quality products with
competitive pricing and rapid turnaround time quickly propelled the
brand into ice hockey and other sports. Inaria's co-founders have
entered into employment agreements and will remain with the company,
which will continue to service soccer and other sports.
purchase price for Inaria will be Cdn $7.0 million in cash, and the
acquisition is currently expected to close on or about Oct. 17, subject
to satisfaction of customary closing conditions.
Bauer is a
leading developer and manufacturer of ice hockey, roller hockey, and
lacrosse equipment as well as related apparel. The company has the most
recognized and strongest brand in the ice hockey equipment industry, and
holds the top market share position in both ice and roller hockey. Its
products are marketed under the Bauer Hockey, Mission Roller Hockey,
Maverik Lacrosse, and Cascade Helmets brand names and are distributed by
sales representatives and independent distributors throughout the
world. Bauer Performance Sports is focused on building its leadership
position and growing market share in all product categories through
continued innovation at every level.