EVANSVILLE, Ind., Dec. 7, 2020 /PRNewswire/ -- Escalade
Sports®, a wholly owned subsidiary of
Escalade, Inc. (NASDAQ: ESCA) and global leader in sports, indoor
and outdoor recreational equipment and games, today announced that
it has acquired substantially all of the business and assets of
Revel Match LLC, dba RAVE Sports, a brand known for its innovative
and high-quality water recreation products. Adding this business to
Escalade's existing portfolio expands its powerful stable of
recreational brands and positions the Company for continued revenue
and profit growth.
RAVE Sports was founded in September
1996 by a team of entrepreneurs with a vision to build a
marketing and distribution platform that could quickly take
innovative, alternative sport products to the worldwide recreation
market. The current RAVE Sports line consists of several consumer
and commercial water sports product categories that complement the
original mission of the company.
"We see RAVE Sports as a perfect fit for Escalade and look
forward to accelerating the brand and enhancing shareholder value
by leveraging our knowledge and expertise in design, distribution,
manufacturing, and our powerful supply chain network", said
Scott Sincerbeaux, Escalade's
President and Chief Executive Officer. "This transaction provides
dynamic portfolio expansion and signals our entry into the growing
water sports market. Category expansion is a critical part of our
growth agenda and we view water sports as a significant
opportunity. We expect the RAVE acquisition to be accretive to
earnings in 2021, while further establishing Escalade as a dominant
force in the sports recreation marketplace."
"We are excited to join the Escalade family as we take RAVE
Sports to the next level. Our shared values and consistent focus on
quality and innovation provide us with significant growth
potential", said Steve Friswold
co-owner of RAVE Sports. "We believe that by combining forces, we
will be able to expand our brand awareness and build upon our
25-year history of making water fun."
Escalade will continue to operate the RAVE Sports business out
of Eagan, MN.
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; American Heritage Billiards® - premium
billiards and game room assortment; 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, Incorporated