Hilco Consumer Capital and Crystal Capital Acquire Legendary Golf Brands Tommy Armour(R), Ram(R), TearDrop(R) and Zebra(R)

    Partnership to Revitalize Brands Through Product Development, Line
Extensions and Aggressive Marketing

    TORONTO, August 27 /CNW/ - Hilco Consumer Capital, LLC ("HCC") and
Crystal Capital ("CC") have partnered to acquire four of the golf world's most
well-known and respected brand names - Tommy Armour(R), Ram(R), TearDrop(R)
and Zebra(R) - from Huffy Corporation. Terms of the purchase were not

    The announcement was made today by James "Jamie" Salter, CEO of
Toronto-based Hilco Consumer Capital and David Peress, Managing Director of
Boston-based Crystal Capital. HCC, a private equity firm, specializes in
building brand management enterprises through the acquisition of recognized
consumer brands. Hilco's current portfolio includes the iconic designer brand
Halston(R), which it controls jointly with the Weinstein Company, and
Caribbean Joe(R), the island apparel lifestyle brand. Mr. Salter has a long
history in the consumer brands industry, most recently having been chairman of
Collective Licensing International, a brand management and global licensor of
youth, lifestyle and high-quality fashion athletic brands. The company was
recently acquired by Payless Shoes. CC is an investment firm that provides
debt and equity capital to middle market companies across all industries. HCC
management will oversee day-to-day operations of the four brands pending the
hiring of a management team of leading industry professionals.

    The Tommy Armour(R) brand has long been recognized by both consumers and
the trade for its highly-playable irons, most notably the world renowned
845(R) Irons and incredibly forgiving, perimeter weighted SilverScot(R) Irons.
The RAM(R) brand has been a mainstay for professional and recreational golfers
since 1947. RAM irons have been used by the winners of more than 100
professional tournaments and 15 major championships worldwide. TearDrop(R) and
Zebra(R) represent venerable brands in the putter and utility club categories.

    "We are very excited about the opportunity to partner with Crystal
Capital and, together, to revitalize an entire portfolio of truly great names
in golf equipment," said Jamie Salter. "Both the Tommy Armour and RAM brands
are rich in tradition and we plan to rebuild each to its former stature, and

    David Peress stated, "Crystal Capital is pleased to be a part of the team
that will bring these iconic brands back for new generations of golfers to
enjoy, regardless of their playing level. We are also very enthusiastic about
investing alongside Hilco Consumer Capital."

    About Tommy Armour

    The Tommy Armour brand was first associated with the Burke Golf Company,
which was founded in 1910 and one of the first golf equipment manufacturers in
the United States. The brand achieved significant recognition in the 1980s
with the introduction of its 845s line of irons. More than 600,000 sets of
these irons were sold, which secured a spot for the brand as one of the most
prominent in the golf industry. The brand's namesake, Thomas Dickenson Armour,
was born on September 24, 1894 in Edinburgh, Scotland. He went on to become a
prominent amateur golfer in Scotland and won the 1920 French Amateur. In 1924,
Armour emigrated to the United States, turned professional and became the
first golfer ever to represent both the United States and Britain in
international tournament play. Nicknamed "The Silver Scot," Armour's biggest
win came in 1927, when he won the U.S. Open at Oakmont. He added the USPGA
title in 1930, beating Gene Sarazen in the final, and won the Open
Championship in 1931 at Carnoustie. Between 1929 and 1948, Armour was head
professional at the exclusive Boca Raton Hotel and Club in Boca Raton,
Florida. In 1953, he published his seminal instruction book 'How to Play Your
Best Golf All of the Time'. A further book 'A Round of Golf with Tommy Armour'
(1956), first introduced readers to the mental side of the game. Armour was
elected to Golf's Hall of Fame in 1942. He passed away on September 12, 1968,
just before his 72nd birthday.

    About Hilco Consumer Capital, LLC

    Hilco Consumer Capital ("HCC") was formed in 2006 to make private equity
investments in prominent consumer brands and build significant, additional
value in them through innovative product development, creative marketing and
licensing strategies. Among HCC's most recent acquisitions are the Halston
fashion brand and the Caribbean Joe line of island apparel. HCC is a unit of
The Hilco Organization, a diversified financial services company specializing
in business and business asset acquisitions, asset monetization services,
asset valuation, special situation corporate finance and bridge lending
services, and retail consulting. Headquartered near Chicago, Hilco is a
privately-owned platform of 21 operating units, each with its own principals
and management team. Under the leadership of Jeffrey B. Hecktman, Chairman and
CEO, Hilco has grown to employ nearly 500 people in North America and the
European Union.

    About Crystal Capital

    Established by a team of experienced financial professionals, Crystal
Capital is an investment firm that provides capital for middle market
companies across all industries. The founding principals each have over 25
years of experience and have provided in excess of USD 15 billion in creative
capital commitments for buyouts, recapitalizations, refinancings and growth

For further information:

For further information: Hilco Consumer Capital, LLC Richard L. Kaye
Chief Marketing Officer rkaye@hilcocc.com 847-418-2711

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