Illinois-based Life Fitness
plans to sell its Brunswick Billiards
pool table and rec room games business to Escalade Inc.
, a publicly-traded sporting goods company based in Indiana.
Brunswick Billiards will continue to be based in the Kenosha County village of Bristol, where the company has a 121,000-square-foot facility. The current management team, including general manager John Kazik, will continue to lead the business.
The deal calls for Escalade to pay a base cash consideration of $32 million, with adjustments for working capital, certain liabilities and transaction expenses, according to securities filings.
“Over the last few months, as we’ve gotten to know the Brunswick Billiards team, we have seen firsthand their passion for Brunswick Billiards products, customers, and employees,” said Walt Glazer, chief executive officer. We are now poised to combine our talented teams to create a world-class business that will continue to provide great quality and value to future generations.”
Brunswick Billiards was part of Brunswick Corporation’s $490 million sale of Life Fitness to KPS Capital Partners in 2019.
"The divestiture of Brunswick Billiards allows Life Fitness, LLC to now focus on building its core commercial/professional fitness business with the sales proceeds earmarked for investment in R&D, connected fitness, and supply chain,” said Paul Stoneham, CEO of Life Fitness.
Stoneham said Escalade would be a natural home for Brunswick Billiards. Escalade has a number of brands in a variety of sporting goods categories, including archery, table tennis, basketball goals, pickleball, play systems, fitness, game tables, water sports, darts and outdoor games.
Escalade has been in the billiards market since 1977 and has several other brands in its portfolio, including American Heritage, Cue&Case, Lucasi, Mizerak, PureX, Rage and Players. The company acquired American Heritage in the fall of 2020.
“We at Brunswick Billiards could not be more excited about what the future holds with Escalade’s support and resources. We intend to keep our staff and leverage our combined strength in supply chain, logistics, R&D, and retail distribution. Brunswick Billiards is a perfect complement to Escalade’s robust portfolio of brands built over the last 99 years,” Kazik said.
[caption id="attachment_540234" align="aligncenter" width="1252"]
The Brunswick Billiards facility in Bristol. Photo Credit: Google[/caption]