New Era Cap, LLC, announced today, August 8, the completion of its acquisition of ’47, the privately held sports lifestyle brand. The financial terms of the transaction were not disclosed.
The combined company, comprising two family-founded brands, is expected to generate approximately $2 billion in annual revenue and deliver an expanded and diversified product portfolio of apparel and accessories globally.
“This transaction is an important milestone in the history of both brands as we continue the next chapter of our growth as a premier global sport and lifestyle company,” said CEO Christopher H. Koch of New Era. “We look forward to leveraging the complementary talent of our combined teams to continue strengthening our customer relationships and licensing partnerships, enhancing our premier products and delivering premium experiences to fans and consumers around the globe.”
The New Era and ’47 will continue operating separate e-commerce websites and serve consumers independently from each company’s headquarters in Buffalo, NY, and Westwood, MA. Koch will lead the combined company, New Era and ’47 management teams.
Image courtesy ’47
