DALLAS—Private equity firm Bain Capital announces plans to acquire Varsity Brands. The news follows a previous acquisition by a Charlesbank Capital Partners investment group in 2014.
While terms of the deal were not disclosed, CNBC reports the agreement is valued at roughly 2.5 billion dollars. Varsity holds a large share of the spirit and a strong foothold in the team market with its company BSN Sports, a major team apparel and equipment distributor.
Through the acquisition, CNBC says Bain expects to “further professionalize a fleet of 9,000 employees and sales representatives,” to bolster the service-end of Varsity’s business. The firm also says it plans to beef up Varsity’s online presence with more options for buying team merchandise online and expand its brick-and-mortar presence.
The announcement follows a year of major growth under the Varsity umbrella. Throughout 2017, BSN Sports secured multiple acquisitions across the U.S. and announced a number of executive-level appointments.
For more information, visit https://www.varsitybrands.com.