Fanatics, the world’s largest seller of licensed sports merchandise, has acquired WinCraft, a company that makes licensed hardgoods like pennants and golf bags.
It’s part of a larger push by Fanatics to expand its capabilities in new areas. The company recently raised $350 million and has quickly put that money to use. In September, it purchased sports headwear licensee Top of the World. Now it’s expanding into hardgoods through WinCraft.
In business since 1961, WinCraft sells anything you’d see in a sports fan’s man cave or on a superfan’s car or desk, including coolers, clocks, decals, lamps, umbrellas and welcome mats. The company, which has annual sales of roughly $100 million, works with more than 700 colleges, all the major U.S. leagues, plus NASCAR, the Olympics and European soccer teams. It also has rights to some Disney products.
The deal will further solidify Fanatics’ dominant position in licensed sports clothing and gear. Owned by billionaire Michael Rubin, the company did roughly $2.5 billion in sales in 2019. It was valued at $6.2 billion during its most recent funding round, believed to be the final raise before a potential IPO.
Under the deal, WinCraft’s brand will continue under the Fanatics umbrella. All of the company’s employees will stay on, and Fanatics will keep the company’s operations in Winona, Minn., as well as offices in Iowa and Florida.
WinCraft president John Killen will stay on to lead Fanatics’ hardgoods efforts. He will report to Molly Adams, who is Fanatics’ newly hired chief integration & transformation officer.