With a long-term focus, Fairfax aims to continue growing Peak’s portfolio, including the iconic Bauer Hockey brand
EXETER, N.H., Sept. 30, 2024 /CNW/ — Peak Achievement Athletics Inc. (“Peak”) announced today that certain affiliates of Fairfax Financial Holdings Limited (collectively, “Fairfax”) (TSX: FFH and FFH.U) will acquire all the equity interests in Peak currently owned by Sagard Holdings Inc. (“Sagard”), giving Fairfax control over Peak and its stable of brands including Bauer Hockey, Cascade Lacrosse and Maverik Lacrosse.
“We couldn’t be happier that Fairfax has decided to acquire controlling ownership of our portfolio of brands. Fairfax has been an incredible partner over the past seven years, and we’re thrilled to solidify this new long-term relationship. Having Bauer Hockey remain with Canadian ownership reflects the importance of the sport within Canadian culture. With Fairfax’s ongoing support the opportunity for our business potential is limitless,” said Ed Kinnaly, Chief Executive Officer of Peak. “We also want to thank Sagard for the partnership over the past seven years and their leadership in helping to grow Peak’s brands to the leadership positions they hold today.”
“We are very excited to increase our ownership in Bauer, led by Ed Kinnaly, which has over many years cultivated Bauer as the most iconic and successful hockey brand in the world,” said Prem Watsa, Chairman and Chief Executive Officer of Fairfax. “Ed and his leadership team have positioned Bauer for growth and continued success for many years to come. We are very thankful to Paul Desmarais III and Sagard for what has been a valuable and rewarding partnership in owning Bauer together, and we wish them all the best in the future.”
In 2017, Fairfax and Sagard purchased Peak, which has a portfolio of leading global brands that includes BAUER, CASCADE and MAVERIK. With its roots starting in Kitchener, Ontario, in 1927, Bauer Hockey is the leading hockey equipment and apparel manufacturer in the world and the No. 1 brand in the game. Cascade Lacrosse and Maverik Lacrosse combine to be the leader in lacrosse head protection and equipment.
The transaction is expected to close in the fourth quarter of 2024.
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Source: Bauer
