OTPP-backed BRG to sell power sports business for $400 mln
BRG Sports Inc, a maker of sports equipment, sportswear and accessories, has agreed to sell its Action Sports division to Vista Outdoor Inc for US$400 million. The deal, expected to close within 60 days, is in cash with an earn-out tied to future performance. The business being sold to Vista comprises some of BRG's leading brands, including the Bell, Giro, Blackburn and C-Preme. Scotts Valley, Calif.-based BRG said the deal will allow the company to pay down its debt, strengthen its balance sheet, and pursue growth initiatives focused on its Riddell brand. Fenway Partners and Ontario Teachers’ Pension Plan (OTPP) will maintain their investments in BRG, the company said.
25 February 2016•3 mins read
