Hockey equipment maker Bauer Performance Sports Ltd. is once again swinging the bat with a baseball acquisition.
The company that made its name in ice hockey said on Thursday it has struck a definitive agreement with Easton-Bell Sports Inc. to acquire the Easton Baseball/Softball business for $330-million (U.S.) in cash.
Bauer has been on a diversification tear in recent years, buying into the baseball, lacrosse and clothing segments as it deals with a challenging hockey market.
Among companies it has bought are Combat Sports Inc., manufacturer of baseball and softball bats, and Cascade Helmets Holding Inc., which makes lacrosse equipment.
"The combination of the No. 1 brand in hockey and the No. 1 brand in diamond sports is a perfect example of our ability to enhance our performance sports platform," said Kevin Davis, president and chief executive officer of Bauer.
Bauer says it wants to expand Easton Baseball/Softball's apparel business to include uniforms and add new geographical territory.
Easton-Bell Sports will retain the Easton Hockey and Cycling businesses.