BSN Sports, owned by Charlesbank Capital Partners’ Varsity Brands, has acquired Lids Team Sports from Genesco Inc. (NYSE: GCO). Terms were not disclosed.
Lids, located in Indianapolis and founded in 2009, sells sports apparel and equipment to schools along with other athletic programs. Boston-based Charlesbank purchased Varsity brands in November 2014. In December 2015, Varsity Brands bought apparel company Allgoods. The combined company will be led by BSN CEO Adam Blumenfeld. Genesco, a sports clothing retailer, says the divestiture will allow the company to focus on its core businesses.