Authentic Brands Group LLC, a Toronto based company, has announced the acquisition of TapouT, Silver Star Casting Co., and Hitman Fight Gear. After years of serving as each others’ competition, the three powerhouse brands are now under the same ownership.
“This sport is still in its infancy,” ABG chairman and CEO Jamie Salter stated. “We strategically chose these acquisitions as our first big move because we’re getting into the right business at the right time. We’re looking forward to working with the best brands and the best athletes in the world as we transition these two companies into global lifestyle brands with our retail and licensing partners.”
TapouT is by far the crown jewel of the sale, as they have penetrated the mainstream market like no other. According to recent reports, the Nike of MMA accounted for sales of more than $200 million dollars last year.
Dan “Punkass” Caldwell, Tim “SkySkrape” Katz and Charles “Mask” Lewis founded TapouT in 1997. The trio started selling t-shirts out of the back of their car nearly 14 years ago and haven’t looked back since.
Lewis died in a tragic car crash in March of 2009.
Although TapouT had many lucrative offers on the table, the ABG deal allows for Caldwell and Katz to remain involved with the company.