Augusta Sportwear Brands and Founder Sport Group have been bought by investment vehicle Platinum Equity for an undisclosed amount.

Augusta Sportswear’s portfolio includes Augusta Sportswear, Holloway, High Five, Pacific Headwear, Russell Athletic and CCM, while Founder Sport Group’s brands include Under Armour, Badger, Alleson, C2, ProSphere, Garb Athletics and Flash.

“The core market for youth sports apparel and accessories has grown steadily over the past decade, but the ecosystem is highly fragmented and, in many ways, inefficient,” said Platinum Equity co-president Louis Samson.

“The core market for youth sports apparel and accessories has grown steadily over the past decade, but the ecosystem is highly fragmented and, in many ways, inefficient.

“We saw the potential to combine two established companies very rapidly and orchestrate a transaction that we believe leverages our unique integration and operational capabilities with the goal of improving those industry dynamics and ultimately bringing to life a better customer experience,” he said.

“This complex transaction is another example of how Platinum’s creativity and out-of-the-box approach to M&A helps us find opportunities to create value even in choppy or dislocated markets.”

Platinum Equity MD Jason Price added that Platinum Equity believes the integration of the two sports apparel companies may reduce customer turnaround times and improve supply chain efficiency.

“Joining forces will create an expanded portfolio of brand and product offerings across the full sports and lifestyle apparel industry. It will make more brands available to more consumers in more communities,” said Price.

Platinum Equity acquired Mad Engine, a premier omnichannel provider of licensed, branded and private-label apparel and accessories in 2020 and two years later acquired Chinese apparel company Hop Lun.