HomeFinanceFanatics Teams Up With Entertainers For Mitchell & Ness Acquisition

Fanatics Teams Up With Entertainers For Mitchell & Ness Acquisition

Jay-Z fanatics mitchell & ness

Fanatics Teams Up With Entertainers For Mitchell & Ness Acquisition

With the help of several entertainers and stars across the music, sport and social media industries, Fanatics has acquired lifestyle brand Mitchell & Ness from Juggernaut Capital Partners.

Notable figures assisting in the acquisition include rappers Jay-Z, Meek Mill and Lil Baby, along with LeBron James’ business partner Maverick Carter, and social media figures the D’Amelio family.

While the official figure of the acquisition was not revealed, it was reported the deal values the authentic nostalgic jerseys, licensed lifestyle products, street fashion apparel and headwear brand, Mitchell & Ness, who currently holds partnerships across the NBA, NFL, MLB, MLS, and several NCAA schools, at US$250 million, after the company recorded a US$70 million profit in 2021.

Fanatics will take a 75% ownership stake of the company, with the ensemble of stars to take the remaining 25% stake.

While Mitchell & Ness will continue to operate as a separate, distinct brand, they will operate within the Fanatics Commerce division and current Mitchell & Ness CEO, Kevin Wulff, will report directly to Fanatics Brand president, Joe Bozich.

Discussing the acquisition, Fanatics CEO, Michael Rubin, said the deal will see Fanatics’ reach expand across a broader market and elevated product categories.

“Mitchell & Ness is an iconic brant and a pioneer within our industry,” Rubin said.

“I’m incredibly excited for Fanatics to partner with this incredible group of innovative owners to build upon the company’s already strong business that has kept the brand culturally relevant for more than 100 years.

“Growing up as a kid in Philadelphia we looked at Mitchell & Ness as a badge of pride, and I truly believe this legendary brand has no limit,” he said.

The acquisition follows on from Fanatics also recently acquiring trading card and collectible organisation, Topps, for US$500 million last month.

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