Bauer Performance Sports to Acquire Inaria International
Growing Apparel Company will Become Latest Brand to Join High Performance Sports Portfolio
TORONTO, ONTARIO -- (Marketwire) -- 10/10/12 -- Bauer Performance Sports Ltd. (TSX:BAU) ("BAUER") today announced it has entered into a definitive agreement to acquire Inaria International ("Inaria"), a global provider of team sports and active apparel. The acquisition will provide 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.
"The acquisition will allow us to enter the large and growing uniform market, where we did not have the capabilities to compete previously," said Kevin Davis, President and Chief Executive Officer, Bauer Performance Sports. "This is an exciting opportunity for us as it will enable us to become a one-stop-shop for our retail partners around the world who will be able to rely solely on BAUER for their complete equipment and team apparel needs for both ice hockey and lacrosse."
Founded in 1999, Inaria offers full finishing and embellishment services at its headquarters facility in Toronto and provides a full-line of team apparel products, including pro-style jerseys, practice jerseys, socks, warm-up suits and training apparel for both youth sports programs and the most elite-level teams. Named after the Italian soccer phrase "in the area," Inaria began its business with a focus on soccer uniforms and products and quickly established itself as a growing soccer apparel brand. The company's expertise in developing quality products with competitive pricing and rapid turnaround time quickly propelled the brand into ice hockey and other sports. Inaria's co-founders have entered into employment agreements and will remain with the company, which will continue to service soccer and other sports.
The purchase price for Inaria will be Cdn $7.0 million in cash, and the acquisition is currently expected to close on or about October 17, subject to satisfaction of customary closing conditions.
ABOUT BAUER PERFORMANCE SPORTS LTD.
Bauer Performance Sports Ltd. (TSX:BAU) is a leading developer and manufacturer of ice hockey, roller hockey, and lacrosse equipment as well as related apparel. The company has the most recognized and strongest brand in the ice hockey equipment industry, and holds the top market share position in both ice and roller hockey. Its products are marketed under the Bauer Hockey, Mission Roller Hockey, Maverik Lacrosse, and Cascade Helmets brand names and are distributed by sales representatives and independent distributors throughout the world. Bauer Performance Sports is focused on building its leadership position and growing market share in all product categories through continued innovation at every level. For more information, visit www.bauerperformancesports.com.
ABOUT INARIA INTERNATIONAL
Founded in 1999, Inaria International is a Toronto-based company that has become a growing brand in the team sports and active wear industry. Inaria provides a full-line of team apparel products, including pro-style jerseys, practice jerseys, socks, warm-up suits, and training apparel. Named after the Italian soccer phrase "in the area," the company offers full finishing, embellishment and unique customization services at its headquarters facility. By providing superior quality and value and quick turnaround time, Inaria's goal is to continue to develop strong relationships with its customers and loyal sports enthusiasts. For more information, visit www.inaria.ca.
INVESTOR INQUIRIES: Bauer Performance Sports Ltd.
Chief Financial Officer
MEDIA INQUIRIES: Bauer Performance Sports Ltd.
Global Communications Manager
603-430-2111 x 5908
Spinnaker Capital Markets Inc.
Kevin O'Connor / Ali Mahdavi