BREAKING NEWS: Bauer Performance Sports has agreed to acquire Cascade Helmets for $64,000,000 (US). Bauer adds Cascade to its stable of high-quality sports equipment brands, including Bauer Hockey, Mission Roller Hockey and Maverik Lacrosse.

Prior to the Cascade acquisition, Bauer’s most recent move in the lacrosse market was purchasing Maverik Lacrosse in June 2010, at which time Bauer operated under Kohlberg Sports Group. Eight months later, in January 2011, Kohlberg took its portfolio of sports brands public on the Canadian Stock Exchange under the name Bauer Performance Sports.

More on this story from Connor Wilson here. The full press release can be found below.

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Bauer Performance Sports Agrees to Acquire Cascade Helmets for US $64 million

Acquisition expands presence in lacrosse—fastest growing team sport in North America

EXETER, NH – June 13, 2012 – Bauer Performance Sports Ltd. (TSX:BAU) (“BAUER”) today announced it has entered into a definitive agreement to acquire Cascade Helmets Holdings, Inc. (“Cascade”), a leading manufacturer and distributor of men’s and youth lacrosse helmets in North America (the “Acquisition”), for a purchase price of US$64 million, payable in cash and subject to adjustment. The Acquisition is expected to close on or about June 29, 2012, subject to satisfaction of customary closing conditions.

Strategic Rationale:

Cascade is the leading designer, developer, manufacturer and marketer of lacrosse helmets and eyewear in North America, and is a leading and well-recognized brand in the broader lacrosse equipment industry. In addition to Cascade’s lacrosse business, the acquisition also includes Cascade’s recently-established hockey helmet business, which has experienced success in the industry with its M11 helmet, which was co-developed with hockey icon Mark Messier. Cascade designs and manufactures all of its products at its operations in Liverpool, NY, which allows it to provide 48-hour turnaround time for custom helmet orders and over 750,000 different color combinations.

One of BAUER’s key growth strategies is to pursue acquisitions of complementary sports equipment companies that require innovative performance products, feature authentic brands, and are or have the potential to become leaders in their categories. The Acquisition of Cascade by BAUER expands BAUER’s presence in the lacrosse equipment industry, adding the industry’s premier line of helmets to the Maverik family of sticks, heads, shafts and protective gear. The transaction also provides an attractive opportunity to leverage BAUER’s commitment to product development and safety, realize attractive cross-selling opportunities, and achieve cost synergies. BAUER intends to leverage Cascade’s patented head-protection technologies and extend and build upon its partnership with Mark Messier to improve player safety through product developments, education and awareness initiatives. BAUER also plans to continue Cascade’s custom manufacturing capabilities for lacrosse and hockey helmets and expects to expand manufacturing at its facility to include BAUER-branded hockey helmets.

“The acquisition of Cascade increases our presence in North America’s fastest growing team sport, and allows us to expand our product offering in our core hockey business through the use of Cascade’s proprietary helmet technology and manufacturing capabilities,” said Kevin Davis, President and Chief Executive Officer, Bauer Performance Sports. “We are very pleased with the similarities in corporate culture and will continue our focus on delivering innovative products which increase player safety and performance. I would like to welcome the Cascade team to the BAUER family.”

ABOUT BAUER PERFORMANCE SPORTS LTD.

Bauer Performance Sports Ltd. (TSX: BAU) is a leading developer and manufacturer of ice hockey, roller hockey, and lacrosse equipment as well as related apparel. The company has the most recognized and strongest brand in the ice hockey equipment industry, and holds the top market share position in both ice and roller hockey. Its products are marketed under the Bauer Hockey, Mission Roller Hockey and Maverik Lacrosse brand names and are distributed by sales representatives and independent distributors throughout the world. Bauer Performance Sports is focused on building its leadership position and growing market share in all product categories through continued innovation at every level. For more information, visit www.bauerperformancesports.com.

ABOUT CASCADE HELMETS HOLDINGS, INC.

Cascade is the leading helmet brand in lacrosse. Cascade was founded in 1986 with a niche focus on designing and manufacturing innovative lacrosse headgear and has expanded into adjacent market segments including women’s lacrosse and field hockey eyewear, and whitewater and rescue helmets. In 2009, Cascade partnered with former NHL player Mark Messier to introduce a new branded line of hockey helmets which shared much of the product technology utilized in Cascade’s lacrosse helmets.

Caution Concerning Forward-Looking Statements

Certain statements in this press release about our current and future plans, expectations and intentions, results, levels of activity, performance, goals or achievements or any other future events or developments constitute forward looking statements. The words “will”, “expects”, “plans”, “intends”, “estimates” or “potential” or the negative or other variations of these words or other comparable words or phrases, are intended to identify forward looking statements. Forward looking statements are based on estimates and assumptions made by us in light of our experience and perception of historical trends, current conditions and expected future developments, as well as other factors that we believe are appropriate and reasonable in the circumstances, but there can be no assurance that such estimates and assumptions will prove to be correct. Many factors could cause our actual results, level of activity, performance, achievements, future events or developments to differ materially from those expressed or implied by the forward looking statements, including, without limitation, the following factors:

our inability to successfully pursue and implement our acquisition growth strategies, our inability to achieve synergies from, and integration plans relating to the Acquisition, our inability to complete the Acquisition, and the financing thereof, within the expected timeframes or at all, increased indebtedness resulting from the Acquisition, intense competition in the apparel and equipment industries, general economic and market conditions and current adverse economic conditions. These factors are not intended to represent a complete list of the factors that could affect us; however, these factors should be considered carefully. The purpose of the forward looking statements is to provide the reader with a description of management’s expectations and may not be appropriate for other purposes; readers should not place undue reliance on forward looking statements made herein. Furthermore, unless otherwise stated, the forward looking statements contained in this press release are made as of the date hereof, and we have no intention and undertake no obligation to update or revise any forward looking statements, whether as a result of new information, future events or otherwise, except as required by law. The forward looking statements contained in this press release are expressly qualified by this cautionary statement.

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