Nike sells on hockey
Nike Inc. is selling its Nike Bauer Hockey subsidiary to an investor group led by Kohlberg & Co. and expatriate Canadian businessman W. Graeme Roustan for $200-million (U.S.) in cash, the sporting goods giant announced Thursday.Thirteen years after the sports giant bought into hockey apparel in a big way, they're selling for what amounts to half the price.
Two other hockey equipment companies, Easton-Bell Sports and Mission-Itech, dropped out of the bidding for the company in December because of the high price tag.
I don't know about anyone else, but to me, quality became an issue with Bauer products with the shift to the Nike brand. A lot of the manufacturing was outsourced outside of Canada with the change in ownership, which would explain a decline in the product itself.
In the land of hockey, we make skates and sticks better than anyone. And if you try and make a buck by selling inferior hockey gear, good luck.
And good riddance.