Few details are currently available, pending an 11:30 news conference with company representatives, but a media alert says that Wilson Sporting Goods’s parent company, Amer Sports, has reached a deal to acquire “global brand, sales, and innovation rights to the Louisville Slugger brand” from Hillerich & Bradsby.
The conference, which is expected to provide additional details, will be held today at 11:30 a.m. at the H&B headquarters at 800 W. Main St in Louisville.
Current information indicates that the acquisition price is $70 million in the all-cash deal that is expected to close in the second quarter of 2015.
Under the agreement, H&B will become Wilson’s exclusive manufacturing partner for wood bats. Bats will continue to be made in the downtown Louisville factory, including all MLB, Minor League Baseball, amateur and souvenir wood bats. Additionally, H&B will continue ownership and operation of the Louisville Slugger Museum & Factory and Gift Shop. The company’s Bionic Gloves and Powerbilt brands are not affected by the deal
President of Wilson Sporting Goods Mike Dowse said this, “We are excited to welcome Louisville Slugger into the Wilson family. Growing our baseball and softball business globally is a key business strategy, and H&B has created one of the most recognizable baseball brands in the world.“