NIKE sells Bauer Hockey unit for $200 mn

22 Feb '08

3 min read

NIKE Inc announced that it has reached a definitive agreement to sell its Bauer Hockey subsidiary to an investor group led by Kohlberg & Company and Canadian businessman W. Graeme Roustan for $200 million in cash. Nike expects the transaction to be completed before the end of its current fiscal year.

"We're pleased to have reached an agreement for Bauer with strategic buyers who have a passion for hockey and are committed to continue to invest in Bauer's long-term growth and brand leadership," said Nike Inc President and CEO Mark Parker.

"Nike Bauer Hockey has been part of the Nike family for 12 years, and its team has done an incredible job. Selling this great hockey company was a tough decision but one that was in the best interests of Nike and Bauer as we each look to maximize our respective growth opportunities."

Bauer, hockey's leading manufacturer, has delivered innovative products for over 80 years. Founded in 1927, Bauer developed the first skate with the blade attached to the boot, forever changing the game of hockey.

Since then, Bauer has continued to develop the most sought after products in the industry, including the widely successful Supreme and Vapor lines of equipment. Bauer is set to once again raise the bar in innovation when it introduces the Supreme One95 skate and 9500 helmet this spring.

"Throughout the entire sale process, we were committed to find the right partner to continue moving our business forward and we have definitely found that partner," said Mark Duggan, CEO, Nike Bauer Hockey. "Our new partners have a genuine enthusiasm for the hockey industry and we are confident their commitment will only strengthen our No. 1 position in the marketplace."

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