Irvine-based American Sporting Goods Inc., an upscale athletic shoe and apparel maker, said Tuesday it bought And 1 in a deal that nearly doubles its size.
Paoli, Pa.-based And 1 is a privately held basketball shoe maker with more than 80 NBA players that wear its gear under sponsorship deals.
“This gives us tremendous diversity and allows us to attack new market segments,” said Kevin Wulff, chief executive of American Sporting, in an interview.
Terms of the deal weren’t disclosed.
The addition of And 1 will help American Sporting reach a “young, male customer,” as well as 130 international markets, he said.
The acquisition is American Sporting’s biggest buy in its 19-year history, Wulff said. The privately held company reported about $220 million in revenue last year.
And 1 was founded in 1993 by New York natives Seth Berger and Jay Gilbert. Their goal was to compete against the top athletic shoe companies adidas-Salomon AG, Nike Inc. and Reebok International Ltd.
It since has grown into a force in the basketball world with its aggressive marketing. And 1’s 2004 sales were roughly $180 million, said spokesman Taylor Duffy.
Among its list of sponsors: NBA stars Stephon Marbury of the New York Knicks, Ben Wallace of the Detroit Pistons, Rafer Alston of the Toronto Raptors and Jason Williams of the Memphis Grizzlies.
According to the company’s Web site, it made its mark in the shoe industry with trend-setting “trash talk, technologically sound footwear and apparel, and a faceless, raceless icon known as the player.”
To sell its gear, it has used taunting slogans such as, “Here’s $5, go buy a game,” and “Call 911, I’m on fire.”
American Sporting has bought five companies since 1996, starting with Avia, a maker of upscale women’s shoes for running, cross-training, walking and other sports. The Irvine company also owns the Turntec, Ryka, Nevados, Yukon and Apex brands.
Wulff said the deal came together very quickly during the past two weeks. He said other larger shoe companies were actively pursuing And 1. He declined to identify them.
Berger, And 1’s chief executive, is set to join American Sporting.
