Sport Supply Group, Inc. acquired substantially all the assets of Webster's Team Sports of Pompano Beach, FL, as part of a goal to “dominate team sports distribution in the state of Florida.” Terms were not disclosed but Sport Supply Group did not assume any liabilities in the transaction.
Speaking with SportsOneSource, Adam Blumenfeld, chairman and CEO, said the company already has assets in Florida, including Orlando Team Sports in its dealer division, and has been a rival of Webster's in the market for years.
“It makes perfect sense for us to combine forces as opposed to competing with Webster's,” said Blumenfeld. “The name's been around for 60 years and they've been dominating Southern Florida for 25 of them. The combination of Webster's efforts with our existing direct sales presence in Florida gives Sport Supply Group state-wide coverage and over time should allow us to significantly leverage our overhead in the state. Adding great talent and great people is at the forefront of every one of our acquisitions.”
Founded in 1946, Webster's is a pure team business with no retail stores in operation. Industry sources placed Webster's sales between $6 million to $7 million.
Webster's staff, including owners Bob Webster, Bill Webster and Brian Webster, will join Sports Supply Group. Blumenfeld also said Webster's has between five and 10 roadmen.
Bob Webster, president, in a statement said, “This is the start of a wonderful new chapter in the long history of Webster's. We are committed to making it a win for our employees and the hundreds of high schools, colleges and youth programs across south Florida.”
Blumenfeld added that over the last 60 days, the company has seen “an uptick in activity” relative to discussions around partnerships, exclusive joint ventures and potential acquisitions. Blumenfeld said this includes both with brands and dealers.
“We are reviewing a number of opportunities and look forward to further progress in this area,” said Blumenfeld. “As this industry continues to consolidate, more and more companies are looking to partner with best-of-breed companies just like we are.” He added that the company wasn't necessarily looking to fill any specific needs through acquisitions.
“We're not so geographically-oriented,” said Blumenfeld. “We tend to go where the opportunity is.”
Sport Supply's dealer division also includes Dixie Sporting Goods, which covers the Mid-Atlantic and Southeastern states, and Kesslers Team Sports, which covers the Midwest and South-Central regions. The division also includes Orlando Team Sports in Florida and Salkeld Sports in Illinois.