Deal Increases LIDS' Market Share Across Canada
INDIANAPOLIS, Oct. 10, 2014 /PRNewswire/ -- Indianapolis-based LIDS Sports Group today announces it has acquired Jersey City Canada, a licensed sports apparel, headwear and novelty company operating 28 retail stores across four Canadian Provinces. In addition, the acquisition includes 9 headwear only CAPZ stores, and 2 websites operating under www.jerseycity.ca and www.CFLshop.ca. Partnering with the CFL, LIDS Sports Group will become the online provider of the Canadian Football League officially licensed merchandise. With this acquisition, LIDS Sports Group will now operate more than 150 locations across Canada, an increase of roughly 35%.
"The addition of Jersey City stores and the official relationship with the CFL will position our company as an even more significant force in the Canadian market for licensed sportswear," says Ken Kocher, President of LIDS Sports Group. "With this acquisition, we will expand our presence in Canada with increased operations and retail expertise, as well as reaffirm our commitment to best serve customers by delivering quality sports merchandise."
LIDS currently operates over 1,300 headwear specialty retail stores, sports fan retail stores and team-specific professional sports and university athletics retail stores across North America and Canada.
ABOUT LIDS SPORTS GROUP
The LIDS Sports Group, operating within Hat World Inc., is comprised of the LIDS retail headwear stores, the Locker Room by LIDS specialty fan retail chain, the LIDS Clubhouse retail stores, the LIDS Team Sports wholesale team sports business, and the Internet businesses www.lids.com, www.lidsclubhouse.com, www.lidsteamsports.com and www.lids.ca. Operating out of Indianapolis, Indiana, the retail businesses make up more than 1,050 mall-based, airport, street level and factory outlet locations nationwide, and in Canada and Puerto Rico. LIDS retail stores offer officially licensed and branded headwear of collegiate teams, major professional sports teams, as well as other specialty fashion categories in the latest styles and colors. Locker Room by LIDS is a mall-based retailer of sports headwear, apparel, accessories, and novelties which also operates under the Sports Fan-Attic and Sports Avenue retail concepts. Most LIDS and Locker Room by LIDS stores also offer custom embroidery capability. LIDS Clubhouse operates team-specific professional sports and university athletics retail stores and e-commerce sites. LIDS Team Sports is a full-service team uniform and apparel dealer, custom screen printer, embroidery and sporting goods distributor. Hat World Inc. is a subsidiary of Genesco Inc.
Certain statements contained in this communication regard matters that are not historical facts and are forward looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, as amended, and the rules promulgated pursuant to the Securities Act of 1933, as amended. Forward-looking statements may be identified by words such as "believes", "expects", "anticipates", "estimates", "projects", "intends", "seeks", "future" or the negative of such terms, or other comparable terminology. Such statements include but are not limited to, statements about the expected benefits of the transaction involving Jersey City Canada, including the company's plans and objectives. Because such forward looking statements contain risks and uncertainties, actual results may differ materially from those expressed in or implied by such forward looking statements. Factors that could cause actual results to differ materially include, but are not limited to: (1) risks that the transaction disrupts current plans and operations and the potential difficulties in employee retention as a result of the acquisition; and (2) the ability to recognize the anticipated benefits of the acquisition. Many of the factors that will determine the outcome of the subject matter of this press release are beyond the company's ability to control or predict. The company undertakes no obligation to revise or update any forward-looking statements, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE LIDS Sports Group