Fresh in the inbox, releases from both Race Face and BRG Sports confirming that Chris Tutton has purchased Easton Cycling. While some of Easton’s operations will remain in California, their marketing, global sales, and customer service departments will move to Race Face’s BC office.
CHRIS TUTTON PURCHASES EASTON CYCLING FROM BRG SPORTS
Chris Tutton, President of Race Face Performance Products Ltd, has purchased Easton Cycling from newly named BRG Sports.
“I am elated by the outcome,” says Tutton. “The Easton brand is synonymous with world class product and I am excited by the opportunity to renew the entrepreneurial roots of the brand and re-focus on technology, quality and service.”
While Race Face and Easton Cycling now share a President, they will continue to operate as separate entities. A shared cost/service resource agreement will be implemented where deemed to be mutually beneficial to both brands. “The shared resources agreement will allow both companies to take precious resources spent on overhead and drive those dollars back into innovation in cycling” says Tutton.
Under Tutton, Easton Cycling will invest in an R&D Service Center, based in California, which will house wheel service, wheel testing and the Easton Engineering team. Under the shared resource agreement, the recently launched Race Face wheel program will also be developed and serviced from this facility. Easton Marketing will relocate to the Race Face head office in the greater Vancouver area of British Columbia; hiring announcements to follow shortly. Easton Global Sales and Customer Service departments will also relocate to the BC office.
“The team at Race Face is very excited to welcome Easton to the RF family” says Tutton. “The core competencies of both companies will help to strengthen and expand both business units. There are also undeniable synergies in sales and distribution to be realized worldwide as well as wins with off-shore vendor production networks currently in place.”
About Race Face Performance Products
Based in Vancouver, B.C., Canada, Race Face Performance Products designs and manufactures leading-edge performance cycling components, clothing, and protection. Race Face products are distributed in more than 40 countries globally. The company sponsors a number of professional riders. For more information, visit raceface.com.
BRG Sports Reaches Agreement to Sell Easton Cycling to Cycling Industry Veteran Chris Tutton
BRG Action Sports to continue to focus on growing core product in Giro, Bell & Blackburn brands
BRG Sports, Inc., a leading designer, developer and marketer of branded sports equipment, protective products and related accessories, today announced that it has entered into an agreement with cycling industry veteran Chris Tutton, under which he will acquire the Easton Cycling business. Tutton has long worked as an independent sales representative for Easton Cycling’s OEM business and he also owns Race Face Performance Products, a company that has been designing and manufacturing leading-edge performance cycling components, clothing, and protection for more than 20 years. The terms of the deal were not disclosed and it is expected to be completed in the next 60 days.
“We are very pleased that the Easton Cycling unit will be under the leadership of an accomplished industry veteran and business professional like Chris,” said BRG Sports Executive Chairman and CEO Terry Lee. “We have enjoyed a long-standing relationship with him both in business and in our shared passions for cycling, and when he put forth an attractive offer, we felt the timing was right to proceed with a deal. We are confident that Chris and his team are the best candidates to create a bright future for the Easton Cycling brand.”
Recently, BRG sold the Easton Baseball/Softball business to Bauer Performance Sports. The Company is also continuing to work towards an agreement with a third party for the sale of Easton Hockey.
BRG Sports’ brand portfolio features market leaders across the sports equipment industry. Bell is synonymous with protection and progression as the leader in motorcycle and cycling helmets and accessories. For over 80 years, Riddell has been the premier designer and developer of football helmet technology and continues to deliver innovative protective equipment that helps today’s athlete perform at the highest level. Since creating the first lightweight, high-performance helmets for cycling and snowsports, Giro has excelled in the design, fit and engineering of products that complement the body and improve the ride experience. Blackburn looks at things from the user’s perspective, showing respect for materials and their functionality, while bringing unprecedented innovation to lights, pumps, bags, racks and other bicycle accessories.
Winston & Strawn LLP acted as legal advisor to the Company in connection with the transaction.
About BRG Sports
BRG Sports is a leading designer, developer and marketer of branded sports equipment, protective products and related accessories. The company markets and licenses products under such well-known brands as Easton, Bell, Riddell, Giro, and Blackburn. Its products incorporate leading technology and designs and are used by professional athletes and enthusiasts alike. Headquartered in Scotts Valley, California, the company has 32 facilities worldwide. More information is available at: www.brgsports.com.
This comes as a surprise, but could be a great partnership for both companies…