TORONTO, ONTARIO--(Marketwire - Oct. 16, 2012) - Bauer Performance Sports Ltd. ("BAUER" or the "Company") (TSX:BAU), announced today that it has closed the acquisition of Inaria International ("Inaria"), a global provider of team sports and active apparel for Cdn$7 million in cash. The Company used its existing debt facility to fund the acquisition.
The acquisition provides BAUER with full team apparel capabilities, including the design, development and manufacturing of uniforms for ice hockey, roller hockey, lacrosse, soccer and other team sports, enabling the Company to become a "one-stop-shop" for its global retail partners' equipment and team apparel needs, for both ice hockey and lacrosse. Inaria's founders and management team will remain with the Company.
"The global wholesale ice hockey apparel market alone is estimated at $375 million annually," said Kevin Davis, President and Chief Executive Officer, BAUER. "Our existing capabilities in the apparel space allowed us to enter the market. With the addition of Inaria, we feel that we have added a critical component that will help us to expand our market share in the hockey and lacrosse apparel categories, as well as other sports. We are excited to welcome Inaria to the BAUER family."
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 Hockey, Mission Roller Hockey, Maverik Lacrosse, 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.
Caution Concerning Forward-Looking Statements
Certain statements in this press release about Bauer's current and future plans, expectations and intentions, including with respect to the acquisition of Inaria, 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 assumptions made by Bauer in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors that are believed to be 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 future events or developments to differ materially from those expressed or implied by the forward looking statements, including, without limitation, inability to successfully integrate Inaria and grow its business and market share in the hockey and lacrosse apparel categories, as well as general economic and market conditions and current adverse economic conditions. 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.