Fanatics and host of celebs acquire sportswear retailer Mitchell & Ness
22 February, 2022
Sportswear group Fanatics, alongside the likes of Jay-Z and Meek Mill, have reportedly confirmed the acquisition of vintage sportswear retailer Mitchell & Ness from Juggernaut Capital Partners.
With the acquisition of the Philadelphia-based company, Fanatics looks to merge the Mitchell & Ness business model with its platform through product portfolio expansion and global recognition.
It will continue to operate as a separate entity within the Fanatics group, with CEO Kevin Wulff continuing to hold his current position. In a statement to Complex, the American footballer and Fanatics CEO, Michael Rubin, said on the acquisition: “I’m incredibly excited for Fanatics to partner with this incredible group of innovative owners to build upon the company’s already strong business that has kept the brand culturally relevant for more than 100 years.”
The publication received intel from a source close to the deal stating the acquisition was worth 250 million dollars.
Fanatics will take 75 percent of the company, while the other 25 percent will be split among a host of celebrities, including Jay-Z, Meek Mill, Maverick Carter, Lil Baby and the family of TikTok star Charli D’Amelio.
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Source: fashionunited.uk
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