Escalade Sports Strengthens Portfolio with Acquisition of Iconic American Heritage Billiards
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.
SOURCE Escalade, Inc.
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