Bauer Performance Sports Ltd. announced that it has closed the acquisition of Inaria International ("Inaria"), a global provider of team sports and active apparel for Cdn$7 million in cash. The Company used its existing debt facility to fund the acquisition.
The acquisition provides 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, enabling the Company to become a "one-stop-shop" for its global retail partners' equipment and team apparel needs, for both ice hockey and lacrosse. Inaria's founders and management team will remain with the Company.
"The global wholesale ice hockey apparel market alone is estimated at $375 million annually," said Kevin Davis, President and Chief Executive Officer, BAUER.
"Our existing capabilities in the apparel space allowed us to enter the market. With the addition of Inaria, we feel that we have added a critical component that will help us to expand our market share in the hockey and lacrosse apparel categories, as well as other sports. We are excited to welcome Inaria to the BAUER family."
