New Era and ’47, a privately held premium sports lifestyle brand, have announced an agreement under which New Era will acquire ’47. The combined company will become a giant in sports fashion and licensed products and is expected to generate approximately $2 billion in annual revenue.
’47 is a privately held premium sports lifestyle brand founded in Boston, Massachusetts, by twin brothers Arthur and Henry D’Angelo in 1947.
Together, the brands will continue and grow their major business focus: licensing partnerships, including US leagues such as the National Basketball Association (NBA), the National Football League (NFL) and the National Hockey League (NHL). Outside the US market, both brands have several major clients, including top international football clubs and the Grand Slam tennis tournaments, among others.
The merger of New Era and ’47 brings together two family-founded brands that have evolved into two global leaders in apparel and accessories. New Era is available at 42,000 points of sale, including 925 franchise and partner stores in more than 110 countries.
”We have known and respected the D’Angelo family and the ’47 team for many years and have tremendous respect for the business they have built,” commented Christopher H. Koch, CEO of New Era. ”Our two companies have a shared history, having begun as family businesses dating back generations and transforming through passion and hard work into globally recognized brands. Through this transaction, we will offer a breadth of products across both brands and enhance how we serve our customers and partners around the world. We will also have opportunities to build on ’47’s strong North American presence internationally in new markets where New Era already has distribution capabilities and a strong customer base. We look forward to leveraging the complementary talent across our two companies and continuing our growth journey for years to come.”
The New Era and ’47 brands will continue to serve consumers independently of each company’s respective headquarters in Buffalo, New York, and Westwood, Massachusetts. ’47 is led by Dominic Farrell. He started working with the company in 2021 as COO and became President in early 2023.
The transaction is expected to close by the end of 2024.
