BUFFALO, N.Y. (WKBW) — New Era Cap and ’47 have announced an agreement under which New Era will acquire ’47, the financial terms of the transaction were not disclosed.
The brands currently have licensing partnerships with global sports leagues and events including:
- Major League Baseball
- National Basketball Association
- National Football League
- National Hockey League
- Over 900 collegiate programs
- European soccer clubs
- U.S. and European auto racing teams
- Grand Slam tennis tournaments
- Major golf championships, and more
According to the announcement, they will continue to grow their licensing partnerships and following the close of the transaction, they will continue to serve customers independently.
The transaction is expected to close by the end of 2024.
“We are pleased to have reached this agreement to acquire ’47, a company that shares our commitment to making iconic products and delivering premium experiences. We have known and respected the D'Angelo family and the ’47 team for many years and have tremendous respect for the business they have built. Our two companies have a shared history, having begun as family businesses dating back generations and transforming through passion and hard work into globally recognized brands. Through this transaction, we will offer a breadth of products across both brands and enhance how we serve our customers and partners around the world. We will also have opportunities to build on ’47’s strong North American presence internationally in new markets where New Era already has distribution capabilities and a strong customer base. We look forward to leveraging the complementary talent across our two companies and continuing our growth journey for years to come.”
- Christopher H. Koch, Chief Executive Officer of New Era
“Today’s announcement marks a major milestone for ’47 and is a testament to all we have achieved over the last 75+ years in growing from a single street cart outside Fenway Park to a successful business and premier sports lifestyle brand. New Era’s core values of creativity and self-expression, combined with its league partnerships, international presence and global distribution capabilities make them the ideal partner for us. We are excited by the opportunities to accelerate our growth and expand the international reach of the ’47 brand and bring more premium products to passionate consumers globally.”
- Dominic Farrell, President of ’47
