Changes Afoot at Riddell Sports

New York–Riddell Sports, the parent company of the Varsity Spirit cheerleading uniforms catalog, announced several changes in senior management. Jeffrey Webb was named president/CEO of Riddell, replacing David Mauer, who has resigned. Webb had been chief operating officer of Riddell and president of Varsity Spirit. John Nichols, the chief financial officer of Varsity Spirit, was promoted to chief financial officer of Riddell. Nichols replaces David Groelinger, who will remain with the company as executive vice president during a transition period.

In other news, Riddell completed the sale of its Riddell Group Division, including the retail and licensing segments, to an acquisition affiliate of New York-based private-equity fund Lincolnshire Management. Lincolnshire is paying approximately $61 million in cash, plus an adjustment to cover seasonal debt incurred by the division.

Riddell will now move its headquarters to Memphis, TN, where Varsity is based. What’s more, Riddell will change its name to Varsity Brands, subject to shareholder approval.

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