Bain Capital nears deal to buy Varsity Brands for $2.5 billion: CNBC

Bain Capital Private Equity is nearing a deal to buy cheerleading uniform and equipment retailer Varsity Brands for $2.5 billion, CNBC reported on Tuesday, citing sources familiar with the matter.

Varsity Brands, which even organizes cheerleading competitions in the United States, was bought by Charlesbank Capital Partners-led investment group in 2014 for about $1.5 billion, according to the report.