Combination of Iconic, Family-Founded Brands Creates Premier Global Sport and Lifestyle Company

BUFFALO, N.Y. and BOSTON, Aug. 8, 2024 /PRNewswire/ -- New Era Cap, LLC ("New Era" or the "Company"), a global lifestyle brand with a deeply rooted connection to sport, fashion and culture, today announced the completion of its acquisition of '47, a privately held premium sports lifestyle brand. Financial terms of the transaction were not disclosed.

The combined company, comprising two distinct, family-founded brands, is expected to generate approximately $2 billion in annual revenue and deliver an expanded and diversified product portfolio of apparel and accessories globally.

"This transaction is an important milestone in the history of both brands as we continue the next chapter of our growth as a premier global sport and lifestyle company," said Christopher H. Koch, Chief Executive Officer of New Era. "We look forward to leveraging the complementary talent of our combined teams to continue strengthening our customer relationships and licensing partnerships, enhancing our premier products and delivering premium experiences to fans and consumers around the globe."

The New Era and '47 brands will continue to operate separate e-commerce websites and serve consumers independently from each company's respective headquarters in Buffalo, New York, and Westwood, Massachusetts. The combined company will be led by Christopher H. Koch, Chief Executive Officer of New Era, and the current New Era and '47 management teams.

About New Era

New Era Cap, LLC is a global lifestyle brand with a deeply rooted connection to sport, fashion and culture, and offering apparel and accessories for men, women and kids. Founded more than a century ago, New Era is recognized around the world for its craftmanship and leadership in headwear, which includes official partnerships with Major League Baseball, the National Football League and the National Basketball Association, in addition to being the headwear of choice for many global sports and events, including European soccer clubs, U.S. and European auto racing teams, Grand Slam tennis tournaments and major golf championships, among others.

Since 1920, New Era has maintained its core values of creativity and self-expression and regularly collaborates with celebrities as well as many of the most prominent and influential designers and creatives. The brand is available at 42,000 points of distribution, including 925 franchise and partner stores across 110+ countries. New Era is proudly headquartered in Buffalo, New York, with offices in 14 countries around the world. For more information, visit www.neweracap.com.

About '47

'47 is a privately held premium sports lifestyle brand offering apparel and headwear to sports fans everywhere. Since its founding as a single street cart outside Fenway Park in Boston, '47 has grown into a leading brand that uniquely melds sport and style. '47 is an official licensee of Major League Baseball, the National Basketball Association, the National Football League, the National Hockey League, NASCAR, over 900 collegiate programs and many international football clubs. '47 was acquired by New Era in August 2024. For more information, please visit https://www.47brand.com/.

Media Contacts

New Era

Leigh Parrish / Kate Thompson

Joele Frank, Wilkinson Brimmer Katcher

212-355-4449

lparrish@joelefrank.com / kclark@joelefrank.com

John Mackowiak

The Martin Group

518-618-1175

jmackowiak@martingroupmarketing.com

'47

Rebecca Shapiro / Mikaela Duhs / MC Miskell

Shorefire Media

917-446-2410

47PR@shorefire.com

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SOURCE New Era Cap LLC