Hockey Brand CCM sold for millions of dollars: Bad news on the hockey community
Reports have emerged that the iconic hockey brand CCM is being sold for over $570 million, potentially leading to increased prices in the future.
Rick Westhead has indicated on X (formerly Twitter) that the private equity firm currently owning CCM is nearing the final stages of selling the hockey equipment giant. The deal is now more of a "when" rather than an "if," with the sale expected to be finalized at any moment. This significant transaction could affect the market, including potential price hikes for CCM products.
The anticipated sale of CCM is set to break records, with the price expected to exceed $570 million, over eight times its EBITDA. Birch Hill Equity Partners, who acquired CCM for $110 million from Adidas seven years ago, have seen the brand grow into one of the leading hockey equipment companies worldwide, doubling its revenue and significantly boosting profits.
Financial experts speculate that Bauer Hockey and True Hockey owners may also consider selling their companies before the year ends, inspired by CCM's lucrative deal.
This development could trouble hockey enthusiasts, as the new ownership may lead to significant price hikes for CCM products. Such increases could even impact the NHL, with team owners potentially raising ticket prices to offset the rising equipment costs. The situation will undoubtedly be one to watch in the coming months.
Credit: House of Hockey
Hockey brand CCM sold: Awful news for hockey players around the world
| POLL | ||
Will you keep buying CCM's products? | ||
| Yes | 9 | 40.9 % |
| NO | 13 | 59.1 % |
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