Louisville Slugger, the venerable maker of baseball bats and the official bat of Major League Baseball, is being purchased by sporting goods giant Wilson, officials from both companies have announced.
Wilson, the Chicago-headquartered division of Finnish-based Amer Sports Corp., is buying global rights to the brand, sales and innovation of Louisville Slugger, itself a division of Hillerich & Bradsby Co.
The $70 million deal must be approved by H&B’s shareholders, officials said.
“The decision to sell the Louisville Slugger brand was a difficult and serious one to make,” John A. Hillerich IV, H&B’s chief executive officer, said in a statement. Hillerich went on to praise Wilson’s global reach, saying it would “create great synergy and grow the Louisville Slugger business.”
Under the deal, H&B will continue to produce the bats exclusively for Wilson. H&B’s Bionic Gloves and Powerbilt golf brand are not included in the deal. H&B also will continue to own and operate the Louisville Slugger Museum & Factory in Louisville.