April 26, 2021
The new lightweight “backyard” baseball and softball equipment brand was started by First Team Sports founder Dave Soderquist and former Stearns exec and First Team board member Tim Rath.
Team sports was hit hard by the pandemic, as schools and clubs cancelled games and seasons, but pent-up demand sent sales up 50% in Q1 ’21 compared to 2020 and up more than 40% compared to 2019, NPD Group reported.
The assets of 25-door Midwestern farm, hardware, outdoor and sporting goods chain, which filed for Chapter 11 in Jan., have been acquired by R.P. Lumber parent R.P. Acquisitions Corp. for $1,750,000.
The mountain sports brand is being acquired from parent Conzzeta by Telemos Capital, an investment firm controlled by the Swiss Jacobs family, which made its fortune in chocolate.
The licensing company will receive $11 million in cash for the wheeled sneaker brand from BBC International, which has been the core licensee of Heelys since 2013.