Collegiate Pacific Buys Dixie Sporting GoodsSports equipment maker Collegiate Pacific Inc. said yesterday that it signed a letter of intent to buy team sports uniform distributor Dixie Sporting Goods.
Financial terms were not disclosed. Collegiate said it plans to close the deal within 60 days.
Dixie Sporting Goods, Richmond, VA, employs 40 road sales professionals in five states covering the mid-Atlantic and East Coast. It has annualized sales of $17 million to $18 million.
Dixie is expected to raise Collegiate Pacific's estimated sales to beyond $90 million for fiscal year 2005, which starts July 1. Collegiate Pacific, Dallas, acquired Kesslers Team Sports on April 1.
"The [Kesslers] and Dixie territories are contiguous -- creating sales force coverage of 14 neighboring states from the Midwest to the East Coast," Collegiate Pacific CEO Michael J. Blumenfeld said in a statement. "The addition of Collegiate's 4,000 factory-direct equipment SKUs to Dixie's ... line of branded team uniforms makes for a one-stop shop to the Dixie customer base. Dixie's core competency in football and team uniforms is ... balanced by Collegiate Pacific's historic expertise in baseball and team equipment."