A $570 million dollar announcement involving Penguins star forward Sidney Crosby shatters the hockey world
The hockey world is in for a shock as a cultural icon in hockey, the brand CCM will be sold for a whopping $570 Million dollars.
TSN's Rick Westhead reports that the private equity firm, Birch Hill Equity Partners which currently owns the brand, will be selling to another brand of investors. Birch Hill who bought CCM from the parent company was originally bought for $110 Million dollars.
This sale could have a major effect on the hockey world as CCM Is one of the major manufacturers of hockey equipment, along with Bauer Sports and True Temper, according to Mordor Intelligence.
The market cap for the hockey equipment industry was $1.9 Billion in 2023.
However, Mordor predicts the industry will balloon to $2.43 Billion by 2028. This could offer a lot of market share for investors to buy, or buy into and capture part of this market.
This could affect hockey players and teams everywhere, as prices could rise as a result of the sale.
This could have ripple effects placing burdens on merchandise costs, and driving up ticket prices as well.
There's no official confirmation of a sale yet, but keep a lookout for an announcement.
With CCM being a leader in the hockey industry, it's allowed it to expand it's reach and improve its equipment offerings. This explains why it's so profitable, players love CCM for it's:
More of private equity owning everything is bad for us, including NHL clubs.
Source: Sportskeeda
Hockey equipment makers CCM to 'eclipse $570M' in sale: Report
| POLL | ||
do you think CCM will be worse off being sold? | ||
| Yes | 32 | 69.6 % |
| No | 14 | 30.4 % |
| List of polls | ||
