Louisville Slugger Purchased by Wilson for $70 M

LNL,

Louisville Sluggers a 120-year-old baseball bat manufacturer will be acquired by Wilson Sporting Goods for $70 millions. It is said that it marries the official Bat of Major League Baseball with the Official Glove (Wilson) of Major League Baseball. The news started spreading about a month ago with an estimated valuation of Louisville slugger brand at less than $100 million.

Robert W. Baird & Co., a Milwaukee based investment bank, was responsible for seeking buyers, including the eventual purchaser Amer Sports Corporation, that is considered as the leading manufacturer of sports equipment, apparel, and accessories and the parent parent company of Chicago-based Wilson Sporting Goods.

Kentucky statutes require that H&B provides its shareholders 10 days to vote on the potential acquisition. However, Louisville Slugger does not expect any issues with achieving shareholder approval within those ten days. It only takes a simple majority for the deal to go through. As said by Mike Dowse, President of Wilson Sporting Goods, Wilson is targeting to close the acquisition of Louisville Slugger in the second quarter of 2015. As per the agreement H&B will continue to manufacture al Louisville Slugger-branded Major League Baseball, Minor League Baseball, amateur player and souvenir wood bats.

The acquisition is being described as Wilson’s purchase of Hillerich & Bradsby, Co.’s (H&B) global brand, sales and innovation rights to Louisville Slugger. All this manufacturing will still ta… MORE

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