Russell Corporation has completed the acquisition, announced earlier this month, of Brooks Sports, Inc. for approximately $115 million cash. Fiscal- year 2004 sales for Brooks, which will operate as a subsidiary of Russell, are expected to be approximately $95 million.
“This is a continuation of our strategy to expand our position as a leading, authentic sporting goods company,” said Jack Ward, chairman and CEO. “The addition of athletic performance footwear strengthens Russell’s position in the sporting goods business. We believe that this acquisition, just as our other recent acquisitions, is an investment in our future growth.”