And1 Sold To American Sporting Goods

Article written by: Rodrick Rainey
Posted on: June 11, 2005

And1, the independent Paoli, Pa., sneaker company that made noise in the basketball world with aggressive marketing, was sold to another company in late May.

American Sporting Goods Inc., maker of Avia and Turntec brands, was the buyer. The Irvine, Calif., company had revenue of $220 milllion last year. AND1 had revenue of $175 million in 2003.

American Sporting Goods said AND1 will help it reach a young, male customer, as well as 130 international markets.

Terms of the deal were not released.

AND1 stated in an e-mail to Basketball News Services, that the upcoming 2005 Mix Tape Tour will not be effected in any way by the sale to American Sporting Goods Inc., and that transition plans have not be made regarding AND1’s future.

The 2005 AND1 Mixtape Tour get underway in June with the first stop in Oakland on June 10th. This year’s tour features stops in 30 cities in the US.

AND1 was founded in 1993 by Philadelphia natives Seth Berger and Jay Gilbert, who were then only 25 years old.

To compete with athletic shoe giants Nike, Adidas and Reebok, the company focused on basketball — in particular, the kind of in-your-face “street ball” played on city playgrounds.

Its “Mixed Tape Tours,” which featured the nation’s best street-ball players, staged games throughout the country. The best action was then featured on DVDs marketed on their own or with the sale of shoes and apparel.

Last year, the company started a limited expansion into retail stores.

AND1 also 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.

Berger, current AND1 CEO, will remain with the company, reporting to American Sporting President and CEO Ken Wulff.