Fairfax Closes Transaction to Acquire Controlling Ownership of Peak Achievement Athletics
Canada NewsWire
EXETER, N.H., Dec. 23, 2024
Fairfax to continue long-term growth focus with Peak's portfolio, including industry-leading Bauer Hockey brand
EXETER, N.H., Dec. 23, 2024 /CNW/ -- Peak Achievement Athletics, Inc. ("Peak") announced today that certain affiliates of Fairfax Financial Holdings Limited (collectively, "Fairfax") (TSX: FFH and FFH.U) closed a transaction to acquire all the outstanding equity interests in Peak from Sagard Holdings Inc. ("Sagard") and other minority shareholders.
On September 30, 2024, Peak announced Fairfax's plans to acquire ownership of Peak and its stable of brands, including Bauer Hockey, Cascade Lacrosse and Maverik Lacrosse, and today's closing completes the process.
"This is a generational milestone in our company's storied history. We're deepening our heritage that began in Kitchener, Ontario, in 1927, continuing with ownership who fully understands and values hockey's connections to Canadian culture and community. For our retail customers and other partners, this is positive milestone that will enable us to continue to grow and invest together into the games that we love," said Ed Kinnaly, Chief Executive Officer of Peak. "I want to thank Fairfax for their continued commitment to our employees, our retailers and affiliated business partners. As much, I want to thank Sagard for their guidance and partnership over the last seven years that contributed to our strong position today."
In 2017, Fairfax purchased Peak and its portfolio of global brands, including BAUER, CASCADE and MAVERIK. Bauer Hockey is the leading hockey equipment and apparel manufacturer in the world and the No. 1 brand in the game. Cascade Lacrosse and Maverik Lacrosse combine to be the leader in lacrosse head protection and equipment.
Media Contact
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SOURCE Bauer
View original content: http://www.newswire.ca/en/releases/archive/December2024/23/c8174.html
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(END) Dow Jones Newswires
December 23, 2024 09:00 ET (14:00 GMT)
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