Ohayo Sangyo LLC has acquired RaceReady, Inc., the running apparel manufacturer, to accelerate the company's growth in US and overseas markets. RaceReady is a manufacturer of high-end, ultra-lightweight running apparel located in Torrance, CA. The company is best known for its LD running shorts with pockets and its ultra-lightweight running shirts. All of RaceReady's products are 100 percent made in the USA.
Terms of the deal were not disclosed.
Ohayo Sangyo will continue to use the trade name RaceRady and plans on expanding brand recognition beyond its current niche running apparel markets.
“I've been running for 25 years and I couldn't pass up the opportunity to acquire a growing running apparel company such as RaceReady,” said Timothy Vadney, Ohayo Sangyo founder and managing director of RaceReady. The founders of RaceReady, Gerry Hans and Mary Button, retired after the acquisition but are continuing to provide management advice to Vadney and his new team.
Gerry Hans said, “Tim impressed us because he has a proven track record as a professional consultant to various sports-related businesses. As Mary and I transition to doing non-profit advocacy work, we are confident that our loyal customer base will be in good hands. Building RaceReady has been an extremely rewarding experience for us.”
The deal was financed with the assistance of JP Morgan Chase and South Peak Capital.
RaceReady was founded in 1993 in Los Angeles and holds three utility patents on its products. RaceReady primarily serves the needs of marathon, trail and ultra-runners and currently sells its products online and at over 160 specialty running stores throughout the US. Ohayo Sangyo (“Good Morning Industries”) LLC is an investment partnership founded by Timothy Vadney and funded by private investors in the US and Japan.
