
LOUISVILLE — Hillerich & Bradsby, the company that made bats for a who's who of baseball greats, including Babe Ruth and Ted Williams, announced a deal Monday to sell its Louisville Slugger brand to rival Wilson Sporting Goods for $70 million.
The deal is expected to close this summer. Twenty-percent of the company's United States employees will lose their jobs in the deal.
Hillerich & Bradsby is best known for making its Louisville Slugger baseball bats.
But the 130-year-old batmaker also makes baseball gloves, golf clubs and other sports equipment. It has faced headwinds in recent years, starting with a threat to its source of ash wood for its professional and amateur wooden bats.
About 60% of Major League Baseball players use Louisville Slugger bats, and the company has sold more than 100 million, according to H&B's website.
Wilson's deal to acquire the global brand, sales and innovation rights of Louisville Slugger still requires approval from H&B shareholders, according to the companies' joint announcement.
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