Escalade Inc. announced the company has sold the 50 percent equity share of Stiga Sports Group AB, headquartered in Sweden.
In connection with the sale, Escalade Sports, its wholly owned subsidiary and global leader in sports and outdoor recreational equipment, entered into a long-term licensing agreement for the Stiga brand on table tennis tables and accessories in North America.
Escalade sold its 50 percent ownership position to a Swedish private investor. The divestiture provides the company the flexibility and means to continue to execute its strategy of growth through innovation and acquisition in core and complimentary categories where Escalade enjoys leadership positions.
Stiga has been a strategic brand in the Escalade portfolio since they established licensing rights for the North American market in 1995, and the extension of the Stiga license will provide the brand platform the company requires to execute its long-term vision of innovation for the avid and recreational table tennis consumer.
“We are pleased to be extending the license of the Stiga brand in North America for the long-term,” said Dave Fetherman, president and chief executive officer of Escalade, Inc. “Our journey with Stiga began twenty-three years ago, and in that time, we have helped our retail partners in sporting goods and other channels grow their table tennis business by developing and delivering a comprehensive range of table tennis products. Stiga Sports AB has been an excellent partner for us and we look forward to continuing our work together to deliver the most innovative products for consumers under the Stiga brand.”
Andreas Zandrén, CEO of Stiga Sports AB, said, “We have enjoyed a great partnership with Escalade Sports for more than two decades and we are excited to be extending our relationship into the future. Escalade provides us with the best opportunity to remain connected with the North American consumer and we are enthusiastic about leveraging our partnership to grow our Stiga brand.”
Escalade Sports’ brands include Bear Archery and Trophy Ridge archery accessories, STIGA and Ping-Pong table tennis, Accudart and Unicorn darting, Onix pickleball equipment, Triumph Sports indoor and outdoor games, Goalrilla and Goalsetter residential in-ground basketball systems, Goaliath and Silverback residential in-ground and portable basketball goals, the STEP fitness products, Lifeline personal fitness, Woodplay premium playsets and Cue&Case specialty billiard accessories.