BRG Sports, Easton Cycling’s owner, has sold the portfolio to RaceFace owner Chris Tutton, who took on the latter label in May 2011.
Tutton, who has long been an independent sales rep for Easton Cycling’s OEM business, has now taken on the Easton business for an undisclosed sum. It is expected the deal will be wrapped up in the next 60 days.
“We are very pleased that the Easton Cycling unit will be under the leadership of an accomplished industry veteran and business professional like Chris,” said BRG Sports executive chairman and CEO Terry Lee. “We have enjoyed a long-standing relationship with him both in business and in our shared passions for cycling, and when he put forth an attractive offer, we felt the timing was right to proceed with a deal. We are confident that Chris and his team are the best candidates to create a bright future for the Easton Cycling brand.”
Recently, BRG sold the Easton Baseball/Softball business to Bauer Performance Sports. The company is also continuing to work towards an agreement with a third party for the sale of Easton Hockey.
BRG Sports retains ownership of the portfolio including protective gear, footwear and clothing label Giro, Bell helmets, as well as Blackburn cycling products. Riddell, a designer and developer of American football helmet technology is also part of the BRG Sports’ portfolio.
According to Bicycle Retailer, Tutton will soon invest in a research and development facility that will have a focus on wheels. The facility will act as a base for the Easton testing team, as well as Race Face’s wheel program.