Rawlings Sporting Goods and Easton Diamond Sports have entered into a definitive agreement for Rawlings to acquire Easton.
The deal is expected to create a leading baseball and softball equipment provider with a diverse multi-brand portfolio. The combined organization will be positioned to further invest into R&D, drive product innovation, offer a convenient shopping experience for consumers, enable increased support for retail partners and expand customization options for players at all levels.
The brands will invest to grow the games of baseball and softball and create opportunities for enhanced partnerships.
Financial terms of the deal weren’t disclosed. Until close, Rawlings and Easton will remain separate companies and continue to operate independently. Existing shareholders of Easton parent Peak Achievement Athletics Inc. will continue to participate as minority owners in the combined organization.
Rawlings is owned by Seidler Equity Partners and MLB Properties, which acquired the brand from Newell Brands in 2018.
"Over the years, Rawlings and Easton have shared a dedication to being best in class, which is the one constant that ultimately inspired our coming together and what will create the best baseball and softball company in the world," said Mike Zlaket, Rawlings president and CEO. "Whether it's our products, innovation and technology, relationships with our customers, players and consumers, or our service to the game, Rawlings has never compromised. That will be especially true moving forward with the many opportunities and advantages our new integrated operation will provide everyone who loves baseball and softball."
"The Easton and Rawlings brands complement each other exceptionally well and will deliver an improved value proposition to all stakeholders, including teams, players, coaches, dealers and associations throughout the industry," said Dan Jelinek, Easton president, in a statement. "We believe the combination of these two leading brands will accelerate innovation, provide for greater investments in growing baseball and softball, and positively impact all constituents in and around the sports of baseball and softball."