DALLAS, TEXAS and GREENWICH, CONNECTICUT (September 5, 2023) – Varsity Brands, the parent company of BSN Sports and Varsity Spirit, and Atlas Holdings jointly announced the signing of a definitive purchase agreement for the sale of Varsity Brands’ Herff Jones Graduation Business, including the Scholastic and Collegiate brand portfolio and manufacturing facilities, to Atlas.
The Herff Jones Graduation Business, which focuses on celebrating the senior experience and commencement for students around the country, offers a range of highly customized products, including caps and gowns, fine paper, jewelry, and frames. Varsity Brands will retain and align the Yearbook business with its Varsity Spirit business segment. The transaction is expected to close within 30 days, subject to customary closing conditions.
“Through this transaction, we see immense potential for the future of Varsity Brands,” said Adam Blumenfeld, CEO of Varsity Brands. “The sale of the graduation business simplifies our infrastructure while unlocking meaningful capabilities and synergies between our Yearbook and Varsity Spirit entities. Varsity Spirit drives passion, enthusiasm, and engagement through cheer, dance, and band. Yearbook has the honor and distinction of memorializing and commemorating student experiences for years to come. We look forward to providing an even broader array of products and services to our shared Yearbook and Varsity Spirit customers in the future.”
Said Atlas Partner Michael Sher: “We are excited to be adding Herff Jones to Atlas’ growing family of great manufacturing and distribution businesses. Our team has partnered with the Leadership Teams of non-core former divisions of larger corporations, strengthening and growing them into focused, thriving, independent businesses. We see tremendous opportunity with Herff Jones and we have extensive experience serving education partners through other current Atlas companies. We are confident that we are the right partner for Herff Jones as it enters the next chapter of its storied history serving students.”
Said Ron Stoupa, President of Herff Jones: “We are thrilled to have found the right partner for Herff Jones’ Graduation Business in Atlas, and we know this decision will pave the way for long-term growth. Atlas has a track record of delivering exceptional human capital and financial resources to their companies, and we look forward to partnering with them in the months and years ahead.”
TopicsVarsity Brands Varsity Spirit BSN Herff Jones Atlas Holdings