Varsity Brands

Varsity Brands, Inc.
Company typePrivate
IndustryAcademic apparel, sports equipment, cheerleading
PredecessorHerff Jones, Varsity Spirit
Founded2014; 11 years ago (2014)
Headquarters
Farmers Branch, Texas
,
United States
Key people
Adam Blumenfeld, CEO
Productsathletic apparel, athletic footwear, cheerleading apparel, camps, competitive events, graduation products, class rings, yearbooks, jewelry
Owner
Number of employees
9,000
Websitewww.varsitybrands.com

Varsity Brands, Inc. is an American apparel company owned by the private equity firm Kohlberg Kravis Roberts. It is primarily focused on academic apparel and memorabilia, with its operations split among three major subsidiaries, including Herff Jones—a manufacturer of products such as class rings, graduation caps and gowns, and yearbooks; Varsity Spirit—which produces apparel and competitions in cheerleading; and BSN Sports, a distributor of sports uniforms and equipment.

History

In 2011, Herff Jones merged with Varsity Brands. Its founder and CEO, Jeff Webb, became president and CEO of Herff Jones.[1] Herff Jones acquired BSN Sports in 2013.[2][3]

In June 2014, it was announced that the company would operate under the Varsity Brands name to reflect a more integrated operation.[3] The company was then sold to the private equity group Charlesbank Capital Partners for $1.5 billion.[2] In 2018, it was sold to Bain Capital for around $2.5 billion.[2]

Adam Blumenfeld, CEO of BSN Sports since 2007, was named CEO of Varsity Brands in 2017.[4]

In 2023, Varsity Brands sold the Herff Jones graduation business to Atlas Holdings.[5]

Varsity Brands was sold to Kohlberg Kravis Roberts for approximately $4.75 billion in August 2024.[6]

Antitrust and sexual assault lawsuits

In May 2020, Varsity Brands faced a consolidated lawsuit[7] over monopoly control in the cheerleading apparel industry.[8]

In September 2022, Varsity Brands also faced two lawsuits regarding sexual assault charges related to Varsity-Brands-connected coaches.[9][10]

In May 2024, Varsity Brands and its previous owners agreed to pay $82.5 million to settle a class-action lawsuit accusing them of monopolizing the cheerleading competitions, camps, and apparel markets. This settlement follows a $43.5 million antitrust settlement from October 2023. Key elements of the 2024 settlement include removing the requirements for cheerleaders to attend Varsity-run camps for championship eligibility and stay at Varsity-approved hotels and ending information sharing between Varsity and the U.S. All Star Federation, which was founded by Varsity.[11]

References

  1. ^ Michael Sheffield (11 December 2012). "Jeff Webb Named President, COO of Herff Jones". Memphis Business News. Retrieved 6 August 2015.
  2. ^ a b c Hirsch, Lauren (2018-06-19). "Bain to acquire Varsity Brands, a top maker of cheerleader uniforms and school spirit items, for roughly $2.5 billion". CNBC. Retrieved 2020-09-30.
  3. ^ a b "Rebranding spreads Varsity name around". Memphis Business News. American City Business Journals. 2014-06-03. Retrieved 2020-09-30.
  4. ^ url=https://www.dallasnews.com/business/business/2015/02/27/the-biggest-distributor-of-sports-apparel-footwear-and-equipment-is-right-here-in-farmers-branch.html/
  5. ^ "Varsity Brands sells its Herff Jones high school, college graduation business". Dallas News. 2023-09-06. Retrieved 2024-05-14.
  6. ^ Womack, Brian (August 27, 2024). "Varsity Brands acquired by KKR for reported $4.75 billion". The Dallas Morning News.
  7. ^ "Fusion Elite All Stars v. Varsity Brands, LLC - Antitrust Class Action Settlement". Berger Montague. Retrieved 2024-03-21.
  8. ^ Stoller, Matt. "The Coming Collapse of a Cheerleading Monopolist". www.thebignewsletter.com. Retrieved 2024-03-21.
  9. ^ Libit, Daniel (2022-09-07). "Varsity Cheerleading Faces Sex Abuse Claims Amid Antitrust Litigation". Sportico.com. Retrieved 2024-03-21.
  10. ^ Stoller, Matt. "Antitrust and the Fall of a Cheerleading Giant". www.thebignewsletter.com. Retrieved 2024-03-21.
  11. ^ Libit, Daniel (2024-05-14). "VARSITY CHEERLEADING, BAIN AGREE TO $82.5 MILLION ANTITRUST SETTLEMENT". Sportico. Penske Media Corporation. Retrieved 2024-05-16.

Read other articles:

Chullachaki

Patung Chullachaki dari Peru Chullachaki[1] (Quechua, berkaki satu, dari kata chulla atau ch'ulla = tunggal, ganjil, tidak berpasangan, chaki = kaki;[2][3][4] ejaan yang juga kadang digunakan dalam bahasa Spanyol)[5] atau Chullachaqui (ejaan Spanyol), juga dikenal dengan nama Shapishico, adalah makhluk hutan dalam mitologi penduduk asli di kawasan hutan Amazon yang terletak di Peru dan Brasil. Ia biasanya digambarkan sebagai makhluk yang pendek dan buru...

 

Visa requirements for Myanmar citizens

Administrative entry restrictions A Myanmar passport Visa requirements for Myanmar citizens are administrative entry restrictions by the authorities of other states placed on citizens of Myanmar. As of 2024, Myanmar citizens had visa-free or visa on arrival access to 48 countries and territories, ranking the Myanmar passport 95th in the world according to the Henley Passport Index.[1] Visa requirements map Visa requirements for Myanmar citizens holding ordinary passports   M...

 

Noddy (TV series)

Canadian-American television series NoddyGenreComedyFantasyCreated byRick SiggelkowBased onClassic Noddy in Toyland series by Enid BlytonWritten byBrian McConnachieSean KellyLawrence S. MirkinKate BarrisJill GolickEllis WeinerRick SiggelkowDirected byWayne MossSteve WrightStarringSean McCannKatie BolandMax MorrowKyle KassardjianJayne EastwoodJim CalderNikki PascettaGil FilarTheme music composerDennis ScottOpening themeThe Noddy ShopEnding themeThe Noddy Shop (Instrumental)ComposersStacey Hers...

Andrew Lansley

British Conservative politician The Right HonourableThe Lord LansleyCBE DLOfficial portrait, 2018Leader of the House of CommonsIn office4 September 2012 – 14 July 2014Prime MinisterDavid CameronPreceded byGeorge YoungSucceeded byWilliam HagueLord Keeper of the Privy SealIn office4 September 2012 – 14 July 2014Prime MinisterDavid CameronPreceded byGeorge YoungSucceeded byThe Baroness Stowell of BeestonSecretary of State for HealthIn office12 May 2010 – 4 Septem...

 

2022 Alaska Senate election

U.S. state election Not to be confused with 2022 United States Senate election in Alaska. 2022 Alaska Senate elections ← 2020 November 8, 2022 2024 → 19 of 20 seats in the Alaska Senate11 seats needed for a majority   Majority party Minority party   Leader Peter Micciche (retired) Tom Begich(retired) Party Republican Democratic Leader since January 19, 2021 January 15, 2019 Leader's seat O District J District Last election 13 7 Seats before ...

 

Kesultanan Banten

Kesultanan Bantenᮊᮞᮥᮜ᮪ᮒᮔᮔ᮪ ᮘᮔ᮪ᮒᮨᮔ᮪ (Aksara Sunda)1527-1813 Bendera Lambang Wilayah Banten pada masa Maulana Hasanuddin, yang menguasai Selat Sunda pada kedua sisinyaIbu kotaSurosowan, Banten Lama, Kota SerangBahasa yang umum digunakanBahasa Sunda Banten,[1] Bahasa Jawa Serang1, Melayu, Arab[2]Agama IslamPemerintahanKesultananSultan • 1552–1570 Sultan Maulana Hasanuddin2• 1651–1683 Sultan Ageng Tirtayasa• 1809�...

Globe (tabloid)

American tabloid newspaper For the former London newspaper, see The Globe (London newspaper). This article needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed.Find sources: Globe tabloid – news · newspapers · books · scholar · JSTOR (August 2009) (Learn how and when to remove this template message) GlobeChief content officerDylan How...

 

Dewi Asmara

Hj.Dewi AsmaraS.H., M.H. Anggota Dewan Perwakilan Rakyat Republik IndonesiaPetahanaMulai menjabat 1 Oktober 2004PresidenMegawati Soekarnoputri Susilo Bambang Yudhoyono Joko WidodoDaerah pemilihanJawa Barat IV Informasi pribadiLahir29 Juni 1961 (umur 62)Jakarta, IndonesiaPartai politikGolkarSuami/istriPermadi SoemarahatiantoHubunganOetojo Oesman (ayah)Anak3Alma materUniversitas Indonesia Universitas PadjadjaranSunting kotak info • L • B Hj. Dewi Asmara, S.H., M.H. (lahir...

 

Pembagian administratif Fiji

Peta pembagian administratif tingkat pertama Fiji Pembagian administratif Fiji terdiri atas 4 divisi pada tingkat pertama dan 14 provinsi pada tingkat kedua. lbsPembagian administratif OseaniaNegara berdaulat Australia Federasi Mikronesia Fiji Kepulauan Marshall Kepulauan Solomon Kiribati Nauru Palau Papua Nugini Samoa Selandia Baru Timor Leste1 Tonga Tuvalu Vanuatu Dependensi danwilayah lain Kepulauan Cocos (Keeling) Kepulauan Cook Guam Hawaii Kaledonia Baru Kepulauan Mariana Utara Pulau Nat...

Lunette astronomique

Pour les articles homonymes, voir lunette. La grande lunette de l'Observatoire de Nice. Une lunette astronomique ou lunette de Kepler est un instrument d'optique composé de lentilles et permettant d'augmenter la luminosité et la taille apparente des objets du ciel lors de leur observation. Équipée d'un redresseur d'image, elle se comporte alors en lunette d'approche. Développée à partir de la fin du XVIe siècle, la lunette astronomique est utilisée à partir de 1609 pour faire ...

 

Coloeus monedula

Come leggere il tassoboxTaccola Stato di conservazione Rischio minimo[1] Classificazione scientifica Dominio Eukaryota Regno Animalia Sottoregno Eumetazoa Superphylum Deuterostomia Phylum Chordata Subphylum Vertebrata Infraphylum Gnathostomata Superclasse Tetrapoda Classe Aves Sottoclasse Neornithes Superordine Neognathae Ordine Passeriformes Sottordine Oscines Infraordine Corvida Superfamiglia Corvoidea Famiglia Corvidae Genere Coloeus Specie C. monedula Nomenclatura binomiale Coloe...

 

Coating

Substance spread over a surface Lacquer being sprayed onto a cabinet A coating is a covering that is applied to the surface of an object, or substrate.[1][2] The purpose of applying the coating may be decorative, functional, or both.[3] Coatings may be applied as liquids, gases or solids e.g. powder coatings. Paints and lacquers are coatings that mostly have dual uses, which are protecting the substrate and being decorative, although some artists paints are only for de...

Georges Bataille

«Non posso considerare libero un essere che dentro di sé non nutra il desiderio di sciogliere i legami del linguaggio.» (Georges Bataille[1]) Georges Bataille Georges Albert Maurice Victor Bataille[2] (Billom, 10 settembre 1897 – Parigi, 9 luglio 1962) è stato uno scrittore, antropologo e filosofo francese. Firma di Georges Bataille Bataille fu contraddistinto da un'interdisciplinarità originata da un interesse rivolto verso molti campi della conoscenza (la letteratura...

 

Трансильванская митрополия

Трансильванская митрополия Кафедральный собор Страна Румыния Церковь Румынская православная церковь Управление Главный город Сибиу Кафедральный собор Свято-Троицкий собор в Сибиу Иерарх Митрополит Трансильванский Лаврентий (Стреза) (с 2005) mitropolia-ardealului.ro Трансильванск...

 

Animated Portable Network Graphics

Animated Portable Network GraphicsUn PNG animé montrant une balle qui rebondit (requiert une version récente de la plupart des navigateurs)CaractéristiquesExtensions .png, .apngType MIME image/apng, image/pngPUID fmt/935Développé par MozillaVersion initiale 3 août 2007Type de format PNG animéBasé sur PNGSpécification Format ouvert modifier - modifier le code - modifier Wikidata APNG (Animated Portable Network Graphics) est une extension non officielle du format PNG, un format d’ima...

2017 Charleston Southern Buccaneers football team

American college football season 2017 Charleston Southern Buccaneers footballConferenceBig South ConferenceRecord6–5 (3–2 Big South)Head coachMark Tucker (1st season)Defensive coordinatorZane Vance (1st season)Home stadiumBuccaneer FieldSeasons← 20162018 → 2017 Big South Conference football standings vte Conf Overall Team   W   L     W   L   No. 8 Kennesaw State $^   5 – 0     12 – 2   Monmo...

 

Spencer Walpole

English historian and civil servant For the British politician and Home Secretary, see Spencer Horatio Walpole. SirSpencer WalpoleKCB FBA10th Lieutenant Governor of the Isle of ManIn office1882–1893MonarchVictoriaPreceded byThe Lord LochSucceeded bySir West Ridgeway Personal detailsBornSpencer Walpole(1839-02-06)6 February 1839Died7 July 1907(1907-07-07) (aged 68)NationalityBritishSpouseMarion Jane MurrayChildrenOne son and one daughter Sir Spencer Walpole KCB, FBA (6 February 1839...

 

Comisionado de Impuestos Internos de los Estados Unidos

Comisionado de Impuestos Internos de los Estados Unidos LocalizaciónPaís Estados UnidosInformación generalJurisdicción Estados UnidosTipo cargo[editar datos en Wikidata] El Comisionado de Impuestos Internos (en inglés: Commissioner of Internal Revenue) es la jefatura del Servicio de Impuestos Internos de Estados Unidos (en inglés: Internal Revenue Service, sigla IRS),[1]​ una agencia perteneciente al Departamento del Tesoro de los Estados Unidos.[2]​ Historia La of...

League Championship Series Most Valuable Player Award

Major League Baseball award League Championship Series Most Valuable Player AwardSportBaseballLeagueMajor League BaseballAwarded forAnnual most valuable players of the two League Championship SeriesCountryUnited States, CanadaPresented byAmerican League, National LeagueHistoryFirst award1977 (NL), 1980 (AL)Most recentAdolis García (AL)Ketel Marte (NL)Madison Bumgarner, the 2014 National League Championship Series Most Valuable Player, won both this award and the World Series MVP in the same ...

 

Stone Age

Prehistoric period during which stone was widely used by humans to make tools and weapons For other uses, see Stone Age (disambiguation). This article needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed.Find sources: Stone Age – news · newspapers · books · scholar · JSTOR (October 2022) (Learn how and when to remove this message) Ġgantij...