Easton-BellSports Increases Focus on Cycling Brands
VAN NUYS, USA – Easton-BellSports Inc. is selling its baseball & softball business to Bauer Performance Sports Ltd. According to Easton-BellSports CEO Terry Lee the deal fits with a restructuring plan which includes renaming the company into BRG Sports.
The sale of Easton-BellSports’ baseball & softball business, which is subject to regulatory approvals, involves USD 330 million (€ 240mn).
Renamed BRG Sports
With the deal struggling Easton-BellSports increases its focus on its remaining brands Bell, Blackburn, Easton Cycling, Giro and Riddell. Next to action sports and football all such brands (with the exception of Riddel) are also active in the cycling sector. With that in mind Easton-BellSports is soon to be renamed BRG Sports probably standing for Bell/Blackburn, Riddell, Giro. Moreover the company announced working towards an agreement with a third party for the sale of its Easton Hockey business.
According to EBS Executive Chairman and CEO Terry Lee, “These transformational transactions provide a terrific opportunity for us to focus on growing our core football and action sports brands and enhancing our cutting-edge, market-leading products, while simultaneously streamlining our operations and solidifying our financial strength. Becoming a more leaner, more focused organization will further enable BRG Sports to move faster and smarter, take full advantage of strategic growth opportunities, and strengthen its broad leadership position in today’s competitive market place.”
Easton-BellSports Inc current owners Fenway Partners, LLC and Ontario Teachers’ Pension Plan will maintain their investments in the company, is noted in a company press release.