EVANSVILLE, Ind., Oct. 16, 2020 /PRNewswire/ -- Escalade
Sports®, a wholly owned subsidiary of Escalade, Inc.
(NASDAQ: ESCA) and global leader in sports and outdoor recreational
equipment, today announced that it has acquired the assets of the
billiard table, game room, and recreational product lines of
American Heritage Billiards, including the related intellectual
property. Escalade agreed to pay a gross purchase price of
$1.55 million, which was paid in cash
at closing.
"Since 1987 American Heritage has grown into one of the world's
largest pool table and game room manufacturers," said Scott Sincerbeaux, President and CEO of
Escalade, Inc. "We are pleased to add the iconic American Heritage
brand to our portfolio of game room and home recreation
brands. American Heritage gives Escalade a complete billiards
and premium game room assortment when combined with our billiards
accessory business, Cue & Case. We view the combination
of these two business lines as a competitive edge in providing
customers and consumers with timeless and relevant design as well
as the highest quality materials for the ultimate billiards'
experience."
"We see American Heritage Billiards as a perfect fit for
Escalade and look forward to accelerating the American Heritage
Billiards brand by leveraging our knowledge and expertise in
design, manufacturing, and our network of supply chain
partners. In addition, we will unlock opportunities for the
brand with our deep relationships with distribution partners around
the world. This acquisition allows us to introduce our
customers to the American Heritage Billiards brand while leveraging
the American Heritage dealer network to expand our Cue & Case
business. As we look to accelerate our presence in the billiards
industry, we will combine the American Heritage Billiards and Cue
& Case business lines and have already recruited new leadership
to support our aggressive growth expectations while providing a
clear path to value creation." Sincerbeaux added.
Escalade will operate the combined American Heritage Billiards
and Cue & Case businesses from its headquarters in Evansville, Indiana.
Escalade is a leading manufacturer and marketer of sporting
goods products sold worldwide. To obtain more information on the
Company and its products, visit our website at:
www.EscaladeInc.com or contact Patrick
Griffin, Vice President of Corporate Development &
Investor Relations at 812/467-1358.
ABOUT ESCALADE SPORTS
Headquartered in Evansville,
IN, Escalade Sports is a global manufacturer and distributor
of sports and outdoor recreational equipment. Leaders in
their respective categories, Escalade Sports' brands include Bear®
Archery, Bear X™, Trophy Ridge®, Rocket®, SIK® and Cajun
Bowfishing™ archery equipment; STIGA® and Ping-Pong® table
tennis; Accudart® and Unicorn® darting; Atomic®, Victory
Tailgate®, Triumph™ Sports, Viva Sol®, Zume Games®
recreational games; DURA® and Onix® pickleball equipment;
Goalrilla™, Goalsetter® residential in-ground basketball systems,
Goaliath® and Silverback® residential in-ground and portable
basketball goals; Lifeline® and the STEP® fitness products;
Woodplay® premium playsets; and Cue&Case® - a leader in
specialty billiard accessories. Escalade Sports' products are
available at sporting goods dealers and independent retailers
nationwide. For more information on Escalade Sports, its
brands, instruction manuals, retailers, warranty, replacement parts
or customer service, please call 1-888-784-4288 or visit
www.escaladesports.com.
FORWARD-LOOKING STATEMENTS
This report contains forward-looking statements relating to
present or future trends or factors that are subject to risks and
uncertainties. These risks include, but are not limited to:
specific and overall impacts of the COVID-19 global pandemic on
Escalade's financial condition and results of operations;
Escalade's plans and expectations surrounding the transition to its
new Chief Executive Officer and all potential related effects and
consequences; the impact of competitive products and pricing;
product demand and market acceptance; new product development;
Escalade's ability to achieve its business objectives, especially
with respect to its Sporting Goods business on which it has chosen
to focus; Escalade's ability to successfully achieve the
anticipated results of strategic transactions, including the
integration of the operations of acquired assets and businesses and
of divestitures or discontinuances of certain operations, assets,
brands, and products; the continuation and development of key
customer, supplier, licensing and other business relationships; the
ability to successfully negotiate the shifting retail environment
and changes in consumer buying habits; the financial health of our
customers; disruptions or delays in our business operations,
including without limitation disruptions or delays in our supply
chain, arising from political unrest, war, labor strikes, natural
disasters, public health crises such as the coronavirus pandemic,
and other events and circumstances beyond our control; Escalade's
ability to control costs; Escalade's ability to successfully
implement actions to lessen the potential impacts of tariffs and
other trade restrictions applicable to our products and raw
materials, including impacts on the costs of producing our goods,
importing products and materials into our markets for sale, and on
the pricing of our products; general economic conditions;
fluctuation in operating results; changes in foreign currency
exchange rates; changes in the securities markets; Escalade's
ability to obtain financing and to maintain compliance with the
terms of such financing; the availability, integration and
effective operation of information systems and other technology,
and the potential interruption of such systems or technology; risks
related to data security of privacy breaches; and other risks
detailed from time to time in Escalade's filings with the
Securities and Exchange Commission. Escalade's future financial
performance could differ materially from the expectations of
management contained herein. Escalade undertakes no obligation to
release revisions to these forward-looking statements after the
date of this report.
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SOURCE Escalade, Inc.