Business
ESCALADE SIGNS DEFINITIVE AGREEMENT TO ACQUIRE THE ASSETS OF THE BRUNSWICK BILLIARDS® BUSINESS FROM LIFE FITNESS, LLC
EVANSVILLE, Ind., Jan. 3, 2022 /PRNewswire/ -- Escalade, Inc. (NASDAQ: ESCA), a leader in sporting goods and indoor/outdoor recreation equipment, today
About this update from Escalade, Incorporated
[{"type":"text","content":"EVANSVILLE, Ind., Jan. 3, 2022 /PRNewswire/ -- Escalade, Inc. (NASDAQ: ESCA), a leader in sporting goods and indoor/outdoor recreation equipment, today announced the signing of a definitive agreement to purchase the assets of the Brunswick Billiards® business from Life Fitness, LLC, a portfolio company of KPS Capital Partners, LP. Brunswick Billiards is the largest and oldest provider of billiards tables, game tables, and game room furniture in the United States. Having participated in the billiards market since 1977, Escalade recognizes the enduring strength of the Brunswick Billiards legacy and its lasting connection with generations of consumers who cherish the brand. \n\n \n \n \n \n \n \n\n \nThe acquisition of Brunswick Billiards presents a significant opportunity to expand Escalade's reach into the billiards and indoor recreation markets. Brunswick Billiards complements Escalade's portfolio of billiards brands including Cue & Case®, Lucasi®, Mizerak®, American Heritage®, and American Legend® as well as Escalade's broader offering in the indoor recreation market including Stiga® table tennis, Accudart® and Unicorn® darting, Atomic® game tables, and Victory Tailgate® licensed and customized games.\n\"Brunswick Billiards has been the premier billiards brand since its founding in 1845. Brunswick Billiards and Escalade share many values including quality, adaptability, and creativity that have enabled both companies to become enduring market leaders. Over the last few months, as we've gotten to know the Brunswick Billiards team, we have seen firsthand their passion for Brunswick Billiards products, customers, and employees. We are now poised to combine our talented teams to create a world-class business that will continue to provide great quality and value to future generations,\" said Escalade's CEO Walt Glazer.\nPaul Stoneham, CEO of Life Fitness, LLC commented: \"The divestiture of Brunswick Billiards allows Life Fitness, LLC to now focus on building its core commercial/professional fitness business with the sales proceeds earmarked for investment in R&D, connected fitness, and supply chain. Escalade is a natural home and owner for the Brunswick Billiards business, setting it up to thrive in the future.\"\nBrunswick Billiards will continue to be based in Bristol, Wisconsin and led by John Kazik, General Manager, and his man...