KKR Acquires Varsity Brands: A New Era for School Sports

In a recent turn of events, KKR, a prominent New York-based investment firm, has acquired Varsity Brands, a Texas-based provider of sports gear for students. This acquisition, reportedly valued at $4. 75 billion, was made from two other private equity firms, Bain Capital and Charlesbank. This move follows Varsity Brands' sale of the Herff Jones graduation business in 2021, while retaining the yearbook business.Varsity Brands, a company with a rich history of over five decades, boasts a customer base of over 150,000, including universities, schools, and club teams. The company has established relationships with major sports gear brands such as Nike, Adidas, Under Armor, and Lululemon. With KKR's support, Varsity Brands aims to expand its product offerings for school and team sports, athletics The company employs approximately 5,500 full-time workers and 4,000 seasonal team members.