Seidler Equity Partners (private equity firm) and Major League Baseball (non-controlling interest) have acquired Rawlings, and subsidiaries Miken and Worth, for $395M from Newell Brands.
Rawlings is a 131-year old baseball equipment company and it has manufactured the league’s official game ball since 1977.
Additionally, Rawlings is under contract with MLB to supply the league with balls and batting helmets through 2021.
MLB EVP for Strategy, Technology and Innovation Chris Marinak said that the acquisition of Rawlings will give the league “even more input and direction on the production”.
Newell Brands acquired Rawlings as part of a $13 billion takeover of Jarden in 2013, but Rawlings’ debt is a reason behind their shedding assets as Rawlings was considered the least valuable of the brands that NWL was looking to unload.