Forzani Group is acquiring a small Toronto-based supplier of custom soccer, hockey, lacrosse, rugby, baseball, basketball and volleyball team uniforms, a move it described as its entry into the team business. Terms were not disclosed.
Sportsphere, operated by a husband and wife team, Jeff and Connie Stephen, had annual sales of less than $10 million.
“One of the three pillars of our strategic plan, announced in 2009, was to expand our customer reach,” said chief executive Bob Sartor in a statement. “The Sportsphere acquisition fits well with our stated strategy as we enter a new business and position ourselves to become a leading supplier of team sports uniforms in Canada.”
Sartor said Forzani, which operates the Sport Chek, Sport Mart and other banners across Canada, will grow this business by broadening product offerings, including hardgoods and accessories, investing in a sales force to service all key markets within Canada, and leveraging its existing stores and e-commerce properties.
“We view this industry as highly fragmented with great opportunity for consolidation and ultimately elevating the shopping experience for all our customers including sports teams and associations,” said Sartor.
The Sportsphere acquisition is expected to close on or about February 27.