Nike selling Bauer Hockey for $200M US
21.02.2008 17:00
Shopping
- Source: cbc.ca
Sporting goods giant Nike Inc. is skating away from hockey, announcing Thursday the sale of Bauer Hockey to a group led by Canadian businessman W. Graeme Roustan and U.S. investment firm Kohlberg & Co. for $200 million US in cash. Nike said it is selling Bauer following a review of its subsidiaries, which also include Converse Inc., Cole Haan and Hurley International. The company has already sold the Starter brand and added U.K. soccer apparel company Umbro. "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," said Nike president and CEO Mark Parker. Founded in 1927, Bauer makes skates, hockey sticks, gear and apparel. Nike bought the company in 1995. Under the deal, Bauer will continue to use the Nike Bauer Hockey trademark on its existing products for up to two years. A native of Sherbrooke, Que., Roustan is a dual Canada-U.S. citizen with business investments in North America, Europe and the Middle East.
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