Peak Achievement Athletics, Inc. announced today that certain affiliates of Fairfax Financial Holdings Limited would acquire all the equity interests in Peak currently owned by Sagard Holdings, Inc., giving Fairfax control over Peak and its brands, including Bauer Hockey, Cascade Lacrosse, and Maverik Lacrosse.
“We couldn’t be happier that Fairfax has decided to acquire controlling ownership of our portfolio of brands. Fairfax has been an incredible partner over the past seven years, and we’re thrilled to solidify this new long-term relationship. Having Bauer Hockey remain with Canadian ownership reflects the importance of the sport within Canadian culture. With Fairfax’s ongoing support the opportunity for our business potential is limitless,” said CEO Ed Kinnaly of Peak. “We also want to thank Sagard for the partnership over the past seven years and their leadership in helping to grow Peak’s brands to the leadership positions they hold today.”
“We are very excited to increase our ownership in Bauer, led by Ed Kinnaly, which has over many years cultivated Bauer as the most iconic and successful hockey brand in the world,” said Prem Watsa, chairman and chief executive officer of Fairfax. “Ed and his leadership team have positioned Bauer for growth and continued success for many years to come. We are very thankful to Paul Desmarais, III and Sagard for what has been a valuable and rewarding partnership in owning Bauer together, and we wish them all the best in the future.”
In 2017, Fairfax and Sagard purchased Peak, a portfolio of global brands, including Bauer, Cascade and Maverik. With its roots starting in Kitchener, Ontario, in 1927, Bauer Hockey manufactures hockey equipment and apparel. Cascade Lacrosse and Maverik Lacrosse manufacture lacrosse head protection and equipment.
The transaction is expected to close in the fourth quarter of 2024.
Image courtesy Bauer
