Juggernaut Capital Partners and Kevin Wulff Acquire Mitchell & Ness Assets from Adidas Group
Jul 11, 2016, 08:14 ET
Authentic Sports Apparel and Headwear Brand gears up for the next phase of growth
PHILADELPHIA, July 11, 2016 /CNW/ -- Juggernaut Capital Partners and Kevin Wulff have acquired the Mitchell & Ness assets from adidas Group. Wulff, a sporting goods industry visionary, has held senior leadership positions with Nike, ASICS, Women's Tennis Association and has consistently delivered superior brand and business results, will oversee the day to day operations of Mitchell & Ness as CEO effective immediately. "Juggernaut Capital has a proven track record of identifying successful consumer brands. I am excited about the tremendous support that they have provided on this project and the resources they will provide in the future," said Wulff. "The outstanding momentum of Mitchell & Ness is evident by the die-hard fan and league support, which will allow for accelerated future growth domestically as well as internationally. I could not be more excited to continue my career in a category that has been a lifelong passion of mine and I look forward to working with the team."
With roots dating back to 1904, Mitchell & Ness Nostalgia Company has grown from a local sporting goods store to a leading international lifestyle brand, specifically within the sports licensed retro Authentic apparel and headwear industry, holding licenses with elite pro leagues. "We have aligned with all of our major league partners, and are excited to have secured ongoing rights with each, some of which are expanded and extended through 2025," said Wulff.
Juggernaut Capital Partners and Wulff will assume ownership immediately, however the company has no significant business structure changes planned. "Although the acquisition is immediate, all functions of the company will continue as-is and the incredible Mitchell & Ness staff in the US and UK will continue driving the business as usual," said Jonathan Yuska - Head of Mitchell & Ness. "We would like to thank our retail partners for their confidence in the past and continued support in the future as the company transitions. No customer, consumer or business partner should expect anything different from Mitchell & Ness as we transition into the next exciting phase of growth of the brand."
About Mitchell & Ness Nostalgia Co.
Founded as a golf and tennis company in 1904, Mitchell & Ness Sporting Goods provided on-field uniforms to the Philadelphia Eagles, Athletics, and Phillies as early as 1933. The Mitchell & Ness Nostalgia Company was created in the 1980's based on the idea to resurrect authentic jerseys significant to sports history. As the pioneer in this field, Mitchell & Ness is known worldwide for its authentic classic jerseys. The company holds licenses from the MLB, NBA, NFL, NHL, NCAA and MLS to produce premium apparel and headwear. Headquartered in Philadelphia, PA, Mitchell & Ness has been "Defining Authentic" for over 110 years.
To shop Mitchell & Ness collections and more information visit, www.mitchellandness.com or our Flagship Store at 1201 Chestnut Street in Philadelphia. For a list of authorized accounts at please visit www.mitchellandness.com/retail-locations
About Juggernaut Capital Partners
Juggernaut Capital Partners, headquartered in Washington, DC, is a leading private equity firm focusing on middle-market companies primarily in the consumer and business sectors. With in excess of US$725 million in committed capital, JCP provides capital for growth, recapitalisations, acquisitions and buyouts. For more information on Juggernaut Capital Partners, http://juggernautcap.com
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SOURCE Mitchell & Ness Nostalgia Co.
For further information: Adam Herstig, Mitchell & Ness, (781) 375-7485, [email protected]; Juggernaut Capital Partners, Chuck Dohrenwend or Erin Smith, Abernathy MacGregor / 212-371-5999, [email protected] / [email protected], http://www.mitchellandness.com
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