Hilco Consumer Capital and Crystal Capital have sold Tommy Armour Golf business to the Sports Authority. No financial terms were disclosed.
Hilco Consumer Capital (“HCC”) and The Sports Authority, Inc. (“Sports Authority”) announced today the sale of HCC’s Tommy Armour Golf business to Sports Authority.
The brands included in the sale were the core Tommy Armour® and RAM® golf brands, as well as Zebra®, 845®, Silver Scot® and TearDrop®.
Prior to the acquisition, Sports Authority had been selling Tommy Armour branded products across its chain of over 450 U.S.-based sporting goods stores under an exclusive distribution agreement with Hilco dating back to September, 2007. HCC and co-investor, Crystal Capital, acquired Tommy Armour from Huffy Corporation in August, 2007.
According to David Campisi, Chief Executive Officer and President of Sports Authority, “Sports Authority has had strong positive consumer reaction to these branded products. We are very pleased with the acquisition and are confident that these brands will facilitate the continuing growth of our golf business. The Sports Authority appreciates its strong working relationship with HCC.”
HCC will continue to work with The Sports Authority over the next several months to ensure a smooth transition of the business. Terms of the deal have not been disclosed, however according to Eric Kaup, CEO of HCC, “The Sports Authority has been a great partner and is the right company to take this terrific golf brand to the next level.”
About Tommy Armour
The Tommy Armour brand was first associated with the Burke Golf Company, which was founded in 1910 and was one of the first golf equipment manufacturers in the United States. The brand achieved significant recognition in the 1980s with the introduction of its 845s line of irons. More than 600,000 sets of these irons were sold, which secured Tommy Armour a spot as one of the prominent brands in the golf industry. The brand’s namesake, Thomas Dickenson Armour, was born on September 24, 1894 in Edinburgh, Scotland. He went on to become a well known and respected amateur golfer in Scotland and won the 1920 French Amateur. In 1924, Armour emigrated to the United States, turned professional and became the first golfer ever to represent both the United States and Britain in international tournament play. Nicknamed “The Silver Scot,” Armour’s biggest win came in 1927, when he won the U.S. Open at Oakmont. He added the USPGA title in 1930, beating Gene Sarazen in the final, and won the Open Championship in 1931 at Carnoustie. Tommy Armour was elected to Golf’s Hall of Fame in 1942. He passed away on September 12, 1968, just before his 72nd birthday.
About The Sports Authority
The Sports Authority is headquartered in Englewood, Colorado. It operates over 450 stores in 45 U.S. states under the Sports Authority banner. The Sports Authority’s e-tailing website, located at sportsauthority.com, is operated by GSI Commerce, Inc. under license and e-commerce agreements. In addition, a joint venture with AEON Co., Ltd. operates “The Sports Authority” stores in Japan under a licensing agreement.
About Hilco Consumer Capital
Formed in 2006, Hilco Consumer Capital (“HCC”) is a leading private equity firm with an exclusive focus on investing in branded consumer companies. HCC looks to acquire retailers, wholesalers and intellectual property in this space and seeks to build significant, additional value through innovative product development, marketing, merchandising and licensing strategies.