Institutional sports equipment DMer Collegiate Pacific bought a majority stake in youth sporting goods company Sport Supply Group for $32 million, Dallas-based Collegiate Pacific said yesterday.
The 53.2 percent stake was acquired from Emerson Radio.
Sport Supply's net sales totaled $90 million in fiscal 2005, up 7.3 percent from the previous year. Operating income improved $6.1 million to $2.2 million versus a fiscal year '04 loss of $3.9 million.
Sport Supply, Parsippany, NJ, serves several markets untapped by Collegiate Pacific, chairman/CEO Michael J. Blumenfeld said in a statement. These include the kindergarten through grade six elementary/middle school markets; the public school bid system; out-of-school private youth sports leagues; and the Internet for institutional, team and consumer purchasing.
Terrence M. Babilla, chief operating officer of Sport Supply, will retain this title and also assume the role of president. Blumenfeld has been elected chairman/CEO of Sport Supply.
Collegiate Pacific distributes 1.5 million catalogs annually.