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Reebok buys CCM

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  • Reebok buys CCM

    The last of the big Canadian hockey suppliers, The Hockey Company (formerly CCM) is being purchased by Reebok. Nike already owns Bauer so the big two hockey suppliers are now owned and controlled by American sports companies.

    This also currently makes Reebok the official supplier for the NFL, NBA and NHL. The Hockey Company has struggled in the past several years with poor cash flow and heavy debt so this is a smart move on the part of CCM's board. Given the possible lockout for the NHL this year not sure how this will impact Reeboks short term bottom line.


    Reebok said on Thursday it will buy Hockey Co. Holdings Inc., Canada's last big independent hockey equipment and apparel maker, for $204 million plus debt. Canton, Massachusetts-based Reebok, the No. 2 U.S. maker of athletic shoes and apparel, said it will pay C$21.25 in cash for each share of Hockey Co., which makes skates and equipment under the CCM, Jofa and Koho brands and supplies National Hockey League team jerseys. Reebok said it will also assume about $125 million in debt and that the boards of directors of both companies had unanimously approved the deal. Shares of Montreal-based Hockey Co. surged C$3.88, or 22.6 percent, to C$21.08 on the Toronto Stock Exchange on Thursday on heavy volume of 1.79 million shares. Reebok shares fell 5 cents to $42.04 in New York. The transaction marks the sale of the last of Canada's leading hockey equipment brands to a big U.S. sporting goods maker. In 1995, Nike bought Canstar Sports and its Bauer brand of skates and equipment, a name that dated back to 1930.
    > --MSN.com, Thursday, April 8, 2004.
    Sponsor of Alex Pieterangelo.

    ..."I spent a lot of money on booze, birds and fast cars. The rest I just squandered." George Best

  • #2
    That really sucks.

    Now my skates are going to say Reebok on them instead of the great CCM.
    Jimmy Buffett quote of the week:

    "Open season on the open seas and Captain says no prisoners please. Skull and crossbones on a background of black. We ain't stealin' we're just takin' back ."


    - Jimmy Buffett, Take it Back, Boats, Beaches, Bars and Ballads Box Set

    "Now, she should be good-looking, but we're willing to trade looks for a certain... morally casual attitude."

    -

    Comment


    • #3
      Originally posted by ScottStevens@Apr 9 2004, 12:15 PM
      That really sucks.

      Now my skates are going to say Reebok on them instead of the great CCM.
      Not necessarily. Nike owns Bauer but offers both Nike and Bauer skates.

      CCM skates suck anyway Scott. Get yourself a decent pair of Bauers Supreme or Vapors.
      Sponsor of Alex Pieterangelo.

      ..."I spent a lot of money on booze, birds and fast cars. The rest I just squandered." George Best

      Comment


      • #4
        Originally posted by hkyfan+Apr 9 2004, 12:20 PM-->
        QUOTE (hkyfan @ Apr 9 2004, 12:20 PM)

      • #5
        Originally posted by ScottStevens+Apr 9 2004, 12:23 PM-->
        QUOTE (ScottStevens @ Apr 9 2004, 12:23 PM)
        Originally posted by [email protected] 9 2004, 12:20 PM
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