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SPALDING BEEFS UP ITS GOLF PRESENCE IN BEN HOGAN ACQUISITION

          Evenflo and Spalding Holdings Corp., parent of Spalding
     Sports Worldwide, has signed a letter of intent to acquire
     certain assets of the Ben Hogan Company, primarily in
     exchange for stock in Evenflo & Spalding Holdings Corp.  The
     deal is expected to close within 30 days.  Terms of the deal
     were not disclosed (Evenflo/Spalding).  Hogan will move its
     headquarters from Richmond, VA, to Chicopee, MA, "where
     Spalding is based," according to Bob Rayner of the RICHMOND
     TIMES-DISPATCH.  Hogan CEO Leonard Slater said that Spalding
     is buying "most, but not all," of Hogan's assets and added
     that while "some" of the company's 100 employees in the
     Richmond area will have a chance to move to MA, "others will
     lose their jobs."  Slater also said that it is "still not
     clear" when the operations will move to MA (RICHMOND TIMES-
     DISPATCH, 11/4).  In Tampa, Jerome Stockfish reports that
     Hogan is "especially strong in golf course pro shops, a
     lucrative market."  Evenflo/Spalding VP Michael Kipphut:
     "That's an area we're trying to concentrate on" (TAMPA
     TRIBUNE, 11/4).  GOLFWEEK's Lynn Henning called the deal "a
     shrewd move by Spalding," giving it the "same kind of three-
     tier retail presences (along with its Spalding and Top-Flite
     labels) that the Maxfli/Slazenger/Dunlop international
     grouping has" in the U.S. (GOLFWEEK, 11/1 issue). 

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