Reported last week by Reuters News, Varsity Brands Inc, which includes Herff Jones and Varsity Spirit, is exploring a sale via auction. Varsity Brands Inc. is rumored to be valued at more than $2.5 billion.
Currently, the company is owned by private equity firm Charlesbank Capital Partners and European investment firm Partners Group Holding AG. They purchased Varsity Brands back in 2014 for $1.5 billion.
According to Reuters, Varsity Brands’ revenue for the past 12 months ending in September was approximately $1.7 billion.
A large part of Varsity Brands business includes class rings, yearbooks, and other school and graduation-related products. They also produce other well-known awards like the Heisman Trophy, NBA All Star rings, and even Super Bowl championship rings.
Of course, the Varsity we’re familiar with produces cheerleading uniforms for schools and programs and produces countless competitive events across the United States and the world. Varsity remains the dominant force in the cheerleading world and influences nearly all of the sport’s major decisions.
The article on Reuters did not offer much information about the sale or what it would mean for the business, as it is confidential. Varsity is a private company, so we don’t get access to information about valuation and revenue very often. Regardless of the outcome, it’s interesting (and shocking) to see how large of a company Varsity Brands has become.