Hilco Consumer Capital, LLC and Crystal Capital have partnered to acquire the Tommy Armour, Ram, TearDrop and Zebra brands from Huffy Corporation. Terms of the purchase were not disclosed.
The announcement was made today by James “Jamie” Salter, CEO of Toronto-based Hilco Consumer Capital and David Peress, Managing Director of Boston-based Crystal Capital. HCC, a private equity firm, specializes in building brand management enterprises through the acquisition of recognized consumer brands. Hilcos current portfolio includes the iconic designer brand Halston, which it controls jointly with the Weinstein Company, and Caribbean Joe, the island apparel lifestyle brand. Mr. Salter has a long history in the consumer brands industry, most recently having been chairman of Collective Licensing International, a brand management and global licensor of youth, lifestyle and high-quality fashion athletic brands. The company was recently acquired by Payless Shoes. CC is an investment firm that provides debt and equity capital to middle market companies across all industries. HCC management will oversee day-to-day operations of the four brands pending the hiring of a management team of leading industry professionals .
“We are very excited about the opportunity to partner with Crystal Capital and, together, to revitalize an entire portfolio of truly great names in golf equipment,” said Jamie Salter. “Both the Tommy Armour and RAM brands are rich in tradition and we plan to rebuild each to its former stature, and beyond.
David Peress stated, “Crystal Capital is pleased to be a part of the team that will bring these iconic brands back for new generations of golfers to enjoy, regardless of their playing level. We are also very enthusiastic about investing alongside Hilco Consumer Capital.”
