NY firm acquires Spyder Active Sports
Last Updated: 14:55 August 16, 2013
Authentic Brands, a New York-based intellectual property corporation, did not disclose the purchase price.
Apax Partners, a New York-based private equity firm, purchased a controlling interest in Spyder in 2004 for about $100 million. A New York Post report last summer stated that Apax was putting Spyder on the market for as much as $150 million.
As part of the deal, Authentic Brands and LF USA have entered into a partnership that makes LF USA the exclusive licensee partner for all current in-market and footwear products bearing the Spyder brand in North, South and Central America, Europe, the Middle East and Africa.
"We are thrilled to announce the addition of Spyder to our growing portfolio of brands Authentic Brands chief executive Jamie Salter said in a press release. "Spyder is widely known and highly respected throughout the outdoor community as one of the most technical and fashionable brands in the winter sports market."
Spyder has been the official supplier of the U.S. Ski Team since 1989 and added the Canadian Alpine Ski Team in 2002.
Jacobs, a former Canadian downhill ski champion, started Spyder as a mail order business. In 1994, he received a patent for his SpeedWyre technology that reduced drag on ski racing suits. That technology was eventually banned by the International Ski Federation for giving its racers an unfair advantage.
"This will elevate and streamline our current business while opening the door to expand the brand's reach into new markets, said Tom McGann, Spyder's CEO. "Our team's creativity and vision knows no bounds. Technical superiority, great design and excellent finishing are not limited to the mountain, and we are excited to show what is now possible with ABG and LF USA in our corner."
Authentic's other brands include Prince, Tapout, Sportcraft and Marilyn Monroe.
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