TORONTO – Bauer Performance Sports Ltd. (TSX:BAU) said Wednesday that it has signed a deal to buy team uniform maker Inaria International for $7 million.
The hockey and lacrosse equipment company said the deal will help expand its business to include uniforms.
“This is an exciting opportunity for us as it will enable us to become a one-stop-shop for our retail partners around the world who will be able to rely solely on Bauer for their complete equipment and team apparel needs for both ice hockey and lacrosse,” chief executive Kevin Davis said in statement.
Inaria sells a full-line of team uniforms, including pro-style jerseys, practice jerseys, socks, warm-up suits and training gear.
Bauer said Inaria’s co-founders will remain with the company, which will also continue its business producing gear for soccer and other sports.
On Tuesday, Bauer reported a profit of $16 million, or 45 cents per diluted share for the three months ended Aug. 31, down from $22.6 million, or 72 cents per share, in the same period a year earlier.
Bauer said the drop in earnings was tied to foreign exchange costs, as well as one-time expenses related to the acquisition of Cascade Helmets Holdings Inc. earlier this year.
Revenue, however, was up four per cent to $148.3 million from $142.4 million in the year-earlier period.
On an adjusted basis, the company earned $22.9 million, up from $20.9 million a year ago. Adjusted earnings per share declined to 65 cents from 66 cents because there were more outstanding shares due to a financing in June to fund the Cascade deal.
Bauer makes and sells ice hockey, roller hockey, and lacrosse equipment as well as related apparel marketed under the Bauer Hockey, Mission Roller Hockey and Maverik Lacrosse names.
