The Forzani Group Ltd. announced the acquisition of Sports International CSTS Inc., trading as Sportsphere, a small private company located in Toronto, Ontario. A family business operated by the husband and wife team of Jeff and Connie Stephen, Sportsphere is a supplier of uniforms to soccer, hockey, lacrosse, rugby, baseball, basketball and volleyball teams across Canada.
Sportsphere has annual sales of less than $10 million.
“We are delighted by this acquisition and are pleased to welcome all Sportsphere employees to FGL,” said Bob Sartor, chief executive officer of FGL. He went on to state that, “One of the three pillars of our strategic plan, announced in 2009, was to expand our customer reach. 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 added, “We will grow this business by broadening our product offering including hardgoods and accessories, investing in a sales force to service all key markets within Canada and leveraging our stores, marketing initiatives and on-line presence to better connect with these customers. 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.”
The Sportsphere acquisition is expected to close on or about the 27th of February, 2011 and is subject to a number of customary closing conditions.
