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- New Era Cap Completes Acquisition of '47, Creating a $2 Billion Global Sport and Lifestyle Company
New Era Cap Completes Acquisition of '47, Creating a $2 Billion Global Sport and Lifestyle Company
Slice of Retail Team
August 13, 2024
Key Highlights:
New Era Cap completes acquisition of '47, creating a $2 billion company.
The combined company to expand globally with diversified apparel and accessories.
Christopher H. Koch to lead the new entity, continuing both brands' independent operations.
Source (PR Newswire)
Notable Quote:
"This transaction is an important milestone in the history of both brands as we continue the next chapter of our growth as a premier global sport and lifestyle company. We look forward to leveraging the complementary talent of our combined teams to continue strengthening our customer relationships and licensing partnerships, enhancing our premier products and delivering premium experiences to fans and consumers around the globe."
Our Take:
The acquisition of '47 by New Era Cap marks a significant moment in the sports lifestyle industry, bringing together two legacy brands with deep roots in sport, fashion, and culture. With a projected $2 billion in annual revenue, the combined company is poised to become a major player on the global stage. This strategic move not only expands New Era's product portfolio but also strengthens its position in key markets, setting the stage for continued growth and innovation. The decision to maintain independent operations for both brands reflects a commitment to preserving their unique identities while leveraging shared resources and talent to enhance customer experiences. This acquisition is a clear indication of New Era's ambition to lead the global sport and lifestyle market.