Easton & Riddel Team Up

NEW YORK, US (Feb 8) - Two of the largest privately held sports equipment makers said today that they were combining to form one of the biggest teams on the industry's playing field. Easton Sports Inc. o and Riddell Bell Holdings Inc. will become Easton-Bell Sports Inc. The deal is being partly funded with money from Canada's Ontario Teachers Pension Fund. Terms were not disclosed. The companies estimate that they have combined annual revenue of $600 million. The deal is expected to be completed by the end of the first quarter . Easton, which is best known for its aluminum bicycle tubing and bats used in softball and baseball as well as its hockey sticks, will keep its headquarters in Van Nuys. Riddell Bell supplies helmets to the National Football League, and through its Bell unit is known for bicycle helmets. Both companies have faced tougher competition in recent years, with corporations such as Nike Inc. and Reebok International Ltd., now owned by Adidas-Salomon, becoming contenders in the world of sports manufacturing. Easton Chairman Jim Easton will serve in the same capacity at the new firm. Easton has 1,200 employees worldwide, with 450 in Van Nuys. Riddell Bell Holdings also has about 1,200 employees. Easton has been family owned since it started manufacturing archery bows and arrows in 1922.