10 24 2017

Bauer Buys Cascade Helmets

Bauer Buys Cascade Helmets

 

Bauer has just purchased Cascade Helmets, maker of the Messier Project, for around $64 million. Having just released the new Re-Akt helmet, Bauer is trying to cement their status as the number one make of hockey equipment! For the press release, click here or continue reading after the photo.

 

TORONTO (Reuters) – Ice-hockey and lacrosse equipment maker Bauer Performance Sports Ltd (BAU.TO: Quote) said on Wednesday it will buy Cascade Helmets Holdings, a privately held U.S. maker of lacrosse helmets, for $64 million cash.

The deal, expected to close later this month, will also give Bauer – the world’s biggest maker of hockey gear – control of Cascade’s recently established hockey helmet business.

Bauer, which is credited with creating the modern hockey skate, said Cascade’s M11 helmet, which was co-developed with former National Hockey League star Mark Messier, has been well received.

“The acquisition of Cascade increases our presence in North America’s fastest-growing team sport (lacrosse), and allows us to expand our product offering in our core hockey business,” Bauer Chief Executive Kevin Davis said in a statement.

Bauer said it expects the acquisition to immediately add to its bottom line as Cascade’s profit margins are about twice as large as its own. Bauer’s shares closed 6 Canadian cents higher at C$8.06 on the Toronto Stock Exchange on Wednesday.

Founded in Kitchener, Ontario, Bauer developed the first skate with a blade attached to the boot, an innovation credited with changing the game of hockey. The company, which dates back to the 1920s, was owned for about a decade by U.S. sporting goods giant Nike Inc (NKE.N:Quote) before being sold to private equity firm Kohlberg & Co in 2008. It was taken public via an initial public offering in 2011.

courtesy of Reuters.com

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  1. […] We all know that Bauer bought Cascade Helmets, who were best known for their collaboration with Mark Messier on the M11 Hockey Helmet. Check out our story on that here. […]