Sporting goods maker Wilson has added to its lineup, buying Hillerich and Bradsby, the maker of the legendary Louisville Slugger baseball bat.
The deal is worth $70 million dollars, and makes Wilson the official wooden bat and glove company of Major League Baseball. Louisville Slugger will stay a stand-alone brand and continue to be made in the Kentucky factory.
Wilson is owned by Finnish parent company Amer Sports Oyj, which makes and markets sports equipment, apparel and shoes. The H&B brands Bionic Gloves and Powerbilt golf brand are not part of the agreement.
H&B CEO John A. Hillerich IV called the decision “difficult,” but in a statement, said it was the right thing to do, "We recognized from our first conversation with Wilson that they would be a great partner and steward of the brand our family created and so many have nurtured for 131 years."