New Era Cap to acquire ’47

Sportswear brand New Era Cap announced on Thursday it has acquired ’47, a privately held premium sports lifestyle brand. Financial terms of the transaction were not disclosed.

The acquisition brings together the two family-founded U.S. sportswear brands with a combined company annual revenue of approximately $2 billion.

Together, the brands will continue and grow their licensing partnerships with some of the largest global sports leagues and events, including Major League Baseball, the National Basketball Association, the National Football League and the National Hockey League, in addition to over 900 collegiate programs, European soccer clubs, U.S. and European auto racing teams, Grand Slam tennis tournaments and major golf championships, among others.

“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,” said Christopher Koch, chief executive officer of New Era.

“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.”  

Under the agreement, the New Era and ’47 brands will continue to operate from each company’s respective headquarters in Buffalo, New York, and Westwood, Massachusetts, with ’47 led by president, Dominic Farrell.

“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,” said Farrell. 

“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.”