Bauer Performance Sports to Acquire Assets of Combat Sports
April 11 2013 - 6:30AM
Marketwired
Bauer Performance Sports Ltd. (TSX:BAU) ("Bauer") today announced
it has entered into a definitive agreement to acquire substantially
all of the assets of Combat Sports ("Combat"), a leading designer
of composite baseball and softball bats, hockey sticks and lacrosse
shafts. The acquisition will provide Bauer with advanced composite
technologies and strong intellectual property to further strengthen
its industry-leading research and development capabilities across
its platform of high-performing sports equipment.
"Combat Sports has a history of success in delivering innovative
composite technologies to the sporting goods industry, and we are
excited to add their knowledge and expertise to Bauer Performance
Sports," said Kevin Davis, President and Chief Executive Officer of
Bauer. "In addition to their experience in the ever-evolving
composites industry, Combat has had significant success with
certain baseball and softball products, and we look forward to
building their brand and expanding their portfolio of products in
the future."
Bauer plans to explore and combine relevant composite
technologies where applicable to strengthen its overall hockey
stick and lacrosse offerings under the BAUER and MAVERIK brands.
Combat and several of the company's key employees have had a long
history of expertise in composite materials, including developing
innovative products for NASA, the U.S. Military and several leading
manufacturers. By focusing resources in the areas of Combat's
success - baseball, softball and advanced composite technologies -
Bauer expects to strengthen the COMBAT brand and grow its overall
portfolio of high-performing products.
The acquisition of Combat will be funded from cash on hand and
is expected to be accretive in the first year of operation. Bauer
anticipates the acquisition to close in the coming weeks, subject
to satisfaction of customary closing conditions and certain other
approvals.
"Our expectation is that Canadian-based Combat will remain in
its current Ottawa, Ontario and Kent, Washington locations, and we
intend to continue manufacturing in Canada," Davis said. "In
addition, we fully expect that Combat's previous leadership team
and many key employees will be employed by the company after the
closing of the transaction."
ABOUT BAUER PERFORMANCE SPORTS LTD.
Bauer Performance Sports Ltd. (TSX:BAU) is a leading developer
and manufacturer of ice hockey, roller hockey and lacrosse
equipment as well as related apparel. The company has the most
recognized and strongest brand in the ice hockey equipment
industry, and holds the top market share position in both ice and
roller hockey. Its products are marketed under the BAUER, MISSION,
MAVERIK, CASCADE and INARIA brand names and are distributed by
sales representatives and independent distributors throughout the
world. Bauer Performance Sports is focused on building its
leadership position and growing market share in all product
categories through continued innovation at every level. For more
information, visit www.bauerperformancesports.com.
ABOUT COMBAT SPORTS
Combat Sports has been supplying composite and hybrid composite
products for both its own brand as well as for high-end brand name
companies since 1998 in the baseball/softball bat, hockey stick and
lacrosse shaft markets. Combat has a reputation for its premier and
innovative composite technology with the latest composite
advancements in performance and durability serving players from the
grassroots level to the elite professional levels.
Caution Concerning Forward-Looking Statements
Certain statements in this press release about our current and
future plans, expectations and intentions, results, levels of
activity, performance, goals or achievements or any other future
events or developments constitute forward-looking statements. The
words "will", "expects", "plans", "intends", "estimates" or
"potential" or the negative or other variations of these words or
other comparable words or phrases, are intended to identify
forward-looking statements. Forward-looking statements are based on
estimates and assumptions made by us in light of our experience and
perception of historical trends, current conditions and expected
future developments, as well as other factors that we believe are
appropriate and reasonable in the circumstances, but there can be
no assurance that such estimates and assumptions will prove to be
correct. Many factors could cause our actual results, level of
activity, performance, achievements, future events or developments
to differ materially from those expressed or implied by the
forward-looking statements, including, without limitation, the
following factors: our inability to satisfy the conditions of
closing to successfully complete the Combat Sports acquisition, our
inability to successfully integrate Combat Sports and its
technologies into the Company's other product offerings and grow
the COMBAT brand, intense competition in the apparel and equipment
industries, volatile market price for Common Shares, general
economic and market conditions and current adverse economic
conditions. These factors are not intended to represent a complete
list of the factors that could affect us; however, these factors
should be considered carefully. The purpose of the forward-looking
statements is to provide the reader with a description of
management's expectations and may not be appropriate for other
purposes; readers should not place undue reliance on
forward-looking statements made herein. Furthermore, unless
otherwise stated, the forward-looking statements contained in this
press release are made as of the date hereof, and we have no
intention and undertake no obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by law. The
forward-looking statements contained in this press release are
expressly qualified by this cautionary statement.
Contacts: INVESTOR INQUIRIES Bauer Performance Sports Ltd. Amir
Rosenthal Chief Financial Officer
603-610-5802investors@bauerperformancesports.com MEDIA INQUIRIES
Bauer Performance Sports Ltd. Tory Mazzola Global Communications
Manager 603-430-2111 x 5908media@bauerperformancesports.com
Spinnaker Capital Markets Inc. Kevin O'Connor / Ali Mahdavi
416-962-3300ko@spinnakercmi.com
Blue Star Gold (TSXV:BAU)
Historical Stock Chart
From Jun 2024 to Jul 2024
Blue Star Gold (TSXV:BAU)
Historical Stock Chart
From Jul 2023 to Jul 2024