Fanatics Acquires Licensed Sports Merchandise Company WinCraft
Wall Street learned this week that Fanatics, an American online retailer of licensed sportswear, sports equipment, and merchandise, will be acquiring WinCraft.
WinCraft makes sports-themed merchandise and will give Fanatics a more significant presence with non-apparel merchandise. WinCraft specializes in hardgoods and sells home, office and automotive sports-themed merchandise, such as clocks and banners.
Fanatics confirmed the acquisition to CNBC. WinCraft chairman Dick Pope is retiring and decided to sell the company that started in 1961, Fanatics said.
Terms of the acquisition were not disclosed.
Fanatics is also gathering consenting rights from WinCraft’s more than 700 colleges and
professional league licensing deals. This includes all championship events and an agreement with the Olympics.
Fanatics will keep all existing WinCraft offices and manufacturing centers open.
This past August Fanatics raised a $350 million Series E funding round and is using the funds to acquire firms to position itself as a market specialist in various sports merchandise areas.
The Series E increased its valuation from $4.5 billion to $6.2 billion. Company officials said to CNBC that it’s the last funding round.
Speculation has been rising that Florida-based Fanatics will eventually seek an IPO, though a Fanatics spokesperson told CNBC the move “is not on our radar right now.”
“Our focus is on building a great company and strengthening our vertical commerce business,” the spokesperson said.
It was this past September that Fanatics also acquired lead collegiate sports headwear company, Top of the World, or TOW, which was facing liquidation.
“The combined manufacturing capabilities of TOW and WinCraft working together with Fanatics’ bricks-and-mortar retail partners provides a tremendous opportunity to grow the licensed retail space by providing consumers a one-stop-shop for apparel and non-apparel items both online and offline,” a Fanatics spokesman told CNBC in an email.
The spokesperson said that both Top of the World and WinCraft will keep staff. Existing executive teams will continue to oversee the day-to-day operations.
Disclaimer: We have no position in any of the companies mentioned and have not been compensated for this article.