DULUTH, GEORGIA (Nov. 15, 2023) – Fox Factory Holding Corp., announced it has closed its acquisition of Wheelhouse Holdings, Inc., the parent company of Marucci Sports at an enterprise value of $572 million. Marucci is an industry-leading designer, manufacturer and distributor of premium performance baseball, softball and other sports-related products.
The acquisition advances FOX’s position as a diversified provider of market-leading branded products with a proven ability to win over both professional athletes and passionate consumer bases, while positioning the combined company for future profitable growth. Marucci will be part of FOX’s Specialty Sports Group (SSG).
FOX said the existing Marucci team will continue to run the daily business from its headquarters in Baton Rouge, Louisiana.
“Our acquisition of Marucci represents a major milestone for FOX as we continue to identify ways to drive synergistic growth without compromising the core identity and values that have been so crucial to our success,” said Mike Dennison, FOX’s Chief Executive Officer. “This deal is not about baseball. It’s about adding a business to our platform that clearly meets our 1+1=3 growth criteria, given that each company’s individual power to grow and deliver shareholder value will be stronger together. Importantly, Marucci and its team share our commitment to winning through superior innovation and quality products in order to help drive leading positions in each of the key markets where we compete.
“This transaction makes us better from day one – not just by being immediately accretive in terms of both revenue and profitability, but by further diversifying our offerings and providing us additional leverage to extend the value of our brands. With a strong balance sheet and receding headwinds, such as the United Auto Workers strike, we are in a powerful position to deliver sustainable shareholder value.”
TopicsFox Factory Mike Dennison Marucci Equipment Sporting Goods Softball Baseball