BRG Sports Inc. has agreed to sell Easton Cycling to cycling industry veteran Chris Tutton. Tutton has long worked as an independent sales representative for Easton Cycling’s OEM business and he also owns Race Face Performance Products, a company that has been designing and manufacturing leading-edge performance cycling components, clothing, and protection for more than 20 years.
The terms of the deal were not disclosed and it is expected to be completed in the next 60 days.
“We are very pleased that the Easton Cycling unit will be under the leadership of an accomplished industry veteran and business professional like Chris,” said BRG Sports Executive Chairman and CEO Terry Lee. “We have enjoyed a long-standing relationship with him both in business and in our shared passions for cycling, and when he put forth an attractive offer, we felt the timing was right to proceed with a deal. We are confident that Chris and his team are the best candidates to create a bright future for the Easton Cycling brand.”
Recently, BRG sold the Easton Baseball/Softball business to Bauer Performance Sports. The company is also continuing to work towards an agreement with a third party for the sale of Easton Hockey.
BRG Sports' brand portfolio includes Bell motorcycle and cycling helmets and accessories, Riddell football helmets, Giro high-performance helmets for cycling and snowsports and Blackburn lights, pumps, bags, racks and other bicycle accessories.
Winston & Strawn LLP acted as legal advisor to the Company in connection with the transaction.