B$Z: BRG Sports Reaches Agreement to Sell Easton Cycling to Cycling Industry Veteran Chris Tutton
Sports Reaches Agreement to Sell Easton Cycling to Cycling Industry Veteran
BRG Action Sports to continue to focus on growing core product in Giro, Bell & Blackburn brands
Press Release from BRG Sports
SCOTTS VALLEY, Calif.— April21, 2014 — BRG Sports, Inc., a leading designer, developer and marketer of branded sports equipment, protective products and related accessories, today announced that it has entered into an agreement with cycling industry veteran Chris Tutton, under whichhewill acquire the Easton Cycling business.Tutton haslong worked as an independent sales representative for Easton Cycling’s OEM business and he also owns Race Face Performance Products, a company that has been designing and manufacturing leading-edge performance cycling components, clothing, and protection for more than 20 years. The terms of the deal were not disclosed and it is expected to be completed in the next 60 days.
“We are very pleased that the Easton Cycling unit will be under the leadership of an accomplished industry veteran and business professional like Chris,” said BRG Sports Executive Chairman and CEO Terry Lee. “We have enjoyed a long-standing relationship with him both in business and in our shared passions for cycling, and when he put forth an attractive offer, we felt the timing was right to proceed with a deal. We are confident that Chris and his team are the best candidates to create a bright future for the Easton Cycling brand.”
Recently, BRG sold the Easton Baseball/Softball business to Bauer Performance Sports. The Company is also continuing to work towards an agreement with a third party for the sale of Easton Hockey.
BRG Sports’ brand portfolio features market leaders across the sports equipment industry. Bell is synonymous with protection and progression as the leader in motorcycle and cycling helmets and accessories. For over 80 years, Riddell has been the premier designer and developer of football helmet technology and continues to deliver innovative protective equipment that helps today's athlete perform at the highest level. Since creating the first lightweight, high-performance helmets for cycling and snowsports, Giro has excelled in the design, fit and engineering of products that complement the body and improve the ride experience. Blackburn looks at things from the user’s perspective, showing respect for materials and their functionality, while bringing unprecedented innovation to lights, pumps, bags, racks and other bicycle accessories.
Winston & Strawn LLPacted as legal advisor to the Company in connection with the transaction.
BRG Sports is a leading designer, developer and marketer of branded sports equipment, protective products and related accessories. The company markets and licenses products under such well-known brands as Easton, Bell, Riddell, Giro, and Blackburn. Its products incorporate leading technology and designs and are used by professional athletes and enthusiasts alike. Headquartered in Scotts Valley, California, the company has 32 facilities worldwide. More information is available at: www.brgsports.com.
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