Bauer Hockey Buys Mission-ITECH
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TORONTO, Sept. 24 /PRNewswire/ -- Bauer Hockey today announced it has purchased Mission-ITECH Hockey, a leader in goal equipment, protective apparel and facial protection. The purchase strengthens Bauer's overall position in the marketplace and is part of the overall growth and investment strategy of Bauer's management team and new ownership group, consisting of Kohlberg & Company and Montreal businessman W. Graeme Roustan. "The combination of innovation and expertise that is at the core of both of these leading organizations provides us with a unique opportunity in the highly competitive hockey industry," said Kevin Davis, CEO & President, Bauer Hockey. "Mission-ITECH has made its mark on the industry with cutting-edge product innovations, and the addition of Mission-ITECH's complementary categories such as goal equipment, protective apparel and facial protection to Bauer's core strengths will allow us to further advance the performance of hockey players all over the world." "Consolidation is essential for the long-term success of the overall hockey industry," said Mike Whan, CEO, Mission-ITECH. "Mission-ITECH and Bauer Hockey are both dedicated to improving the game and creating a better experience for all players. That combined commitment will only help increase the overall health of the industry and the sport itself." Bauer Hockey Corp., the Canadian entity of Bauer Hockey, based in Mississauga, Ontario and St. Jerome, Quebec, will acquire Mission-ITECH's Canadian operations. Mission-ITECH's facility in Kirkland, Quebec and its distribution facility in Plattsburgh, N.Y. will remain open until May 31, 2009. Approximately 140 non-union employees will be impacted by the multi-phased closure of both facilities. To minimize the impact of the acquisition, Bauer Hockey will provide affected Mission-ITECH employees financial assistance, applicable benefit packages and outplacement counseling. Bauer Hockey continues to employ nearly 300 Canadian employees at its Research, Design & Development center in St. Jerome, Quebec and its Canadian headquarters and distribution center located in Mississauga, Ontario. More than half of all Bauer Hockey's global employees are based in Canada. About Bauer Hockey Bauer Hockey is the world's most recognized designer, marketer and manufacturer of hockey equipment and currently operates under the Nike Bauer Hockey name. Founded in Kitchener, Ontario in 1927, Bauer developed the first skate with a blade attached to a boot, forever changing the game of hockey. Since then, Bauer has continued to develop the most sought after products in the industry, including the widely successful Supreme and Vapor lines of products. SOURCE Bauer Hockey Steve Jones, +1-603-430-2111, ext. 2313, Steven.email@example.com
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