Varsity_Brands

Varsity Brands

Varsity Brands

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Varsity Brands, Inc. is an American apparel company owned by Bain Capital. It is primarily focused on academic apparel and memorabilia, with its operations split among three major subsidiaries, including Herff Jones—a manufacturer of products such as class rings, graduation caps and gowns, and yearbooks; Varsity Spirit—which produces apparel and competitions in cheerleading; and BSN Sports, a distributor of sports uniforms and equipment.

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History

In 2011, Herff Jones merged with Varsity Brands. Its founder and CEO Jeff Webb became president and CEO of Herff Jones.[1] Herff Jones acquired BSN Sports in 2013.[2][3]

In June 2014, it was announced that the company as a whole would operate under the Varsity Brands name in order to reflect a more integrated operation.[3] The company was then sold to the private equity group Charlesbank Capital Partners.[2] In 2018, it was sold to Bain Capital for around $2.5 billion.[2]

Adam Blumenfeld, who was CEO of BSN Sports since 2007, was named CEO of Varsity Brands in 2017.[4]

Antitrust and sexual assault lawsuits

In May 2020, Varsity Brands faced a consolidated lawsuit[5] over monopoly control in the cheerleading apparel industry.[6]

In September 2022, Varsity Brands also faced two lawsuits regarding sexual assault charges related to Varsity-Brands-connected coaches.[7][8]

References

  1. [1]
    Michael Sheffield (11 December 2012). "Jeff Webb Named President, COO of Herff Jones". Memphis Business News. Retrieved 6 August 2015.
  2. [2]
    Hirsch, Lauren (2018-06-19). "Bain to acquire Varsity Brands, a top maker of cheerleader uniforms and school spirit items, for roughly $2.5 billion". CNBC. Retrieved 2020-09-30.
  3. [3]
    "Rebranding spreads Varsity name around". Memphis Business News. American City Business Journals. 2014-06-03. Retrieved 2020-09-30.
  4. [4]
    url=https://www.dallasnews.com/business/business/2015/02/27/the-biggest-distributor-of-sports-apparel-footwear-and-equipment-is-right-here-in-farmers-branch.doc/
  5. [5]
    "Fusion Elite All Stars v. Varsity Brands, LLC - Antitrust Class Action Settlement". Berger Montague. Retrieved 2024-03-21.
  6. [6]
    Stoller, Matt. "The Coming Collapse of a Cheerleading Monopolist". www.thebignewsletter.com. Retrieved 2024-03-21.
  7. [7]
    Libit, Daniel (2022-09-07). "Varsity Cheerleading Faces Sex Abuse Claims Amid Antitrust Litigation". Sportico.com. Retrieved 2024-03-21.
  8. [8]
    Stoller, Matt. "Antitrust and the Fall of a Cheerleading Giant". www.thebignewsletter.com. Retrieved 2024-03-21.
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