I bought maybe a dozen Louisville Sluggers as a kid, you were nobody in Little League and above without your very own bat. The article below (from the WSJ) also says they once had a bat recall, how the heck does that happen?
Baseball-glove maker Wilson Sporting Goods Co. has acquired global rights to the iconic Louisville Slugger bat from Hillerich & Bradsby Co. for $70 million in cash, a move to spur growth at the now-languishing brand.
Wilson, a division of Finland-based Amer Sports Corp., will now add the Louisville Slugger bat to its portfolio of gloves, uniforms and other sports gear. Wilson said it would market and sell Louisville Slugger as a stand-alone brand.
Louisville Slugger has struggled in recent years after series of missteps, including a costly bat recall. The business brought in about $75 million in sales last year.
Hillerich has been competing in the wooden-bat market for more than 100 years. But several years ago some of its peers went on an investment-fueled expansion drive. Hillerich, meanwhile, remains family-owned, which has limited its ability to invest.
The company, which has signed thousands of professional baseball players over the years, including Babe Ruth and Lou Gehrig, has also been slow to adapt to the changing world and has lost market share.
"The decision to sell the Louisville Slugger brand was a difficult and serious one to make," said Chief Executive John Hillerich IV in a news release. "Wilson has the financial resources, research and development staff and structure, and the experience with big brands to create great synergy and grow the Louisville Slugger business."
Under the terms of the deal, Hillerich will continue to manufacture Louisville Slugger-branded wood bats and own the Louisville Slugger Museum & Factory and Gift Shop in Louisville, Ky.
Baseball-glove maker Wilson Sporting Goods Co. has acquired global rights to the iconic Louisville Slugger bat from Hillerich & Bradsby Co. for $70 million in cash, a move to spur growth at the now-languishing brand.
Wilson, a division of Finland-based Amer Sports Corp., will now add the Louisville Slugger bat to its portfolio of gloves, uniforms and other sports gear. Wilson said it would market and sell Louisville Slugger as a stand-alone brand.
Louisville Slugger has struggled in recent years after series of missteps, including a costly bat recall. The business brought in about $75 million in sales last year.
Hillerich has been competing in the wooden-bat market for more than 100 years. But several years ago some of its peers went on an investment-fueled expansion drive. Hillerich, meanwhile, remains family-owned, which has limited its ability to invest.
The company, which has signed thousands of professional baseball players over the years, including Babe Ruth and Lou Gehrig, has also been slow to adapt to the changing world and has lost market share.
"The decision to sell the Louisville Slugger brand was a difficult and serious one to make," said Chief Executive John Hillerich IV in a news release. "Wilson has the financial resources, research and development staff and structure, and the experience with big brands to create great synergy and grow the Louisville Slugger business."
Under the terms of the deal, Hillerich will continue to manufacture Louisville Slugger-branded wood bats and own the Louisville Slugger Museum & Factory and Gift Shop in Louisville, Ky.
