Clayton, Dubilier & Rice has completed a previously announced partnership transaction in which CD&R-managed funds invested alongside current owners and management to acquire S&S Activewear, a North American distributor of imprintable apparel and accessories.
The terms of the transaction have not been disclosed.
Founded in 1988, S&S has grown under the current management team and owners from a successful midwestern t-shirt and fleece distributor into an industry leader with approximately USD1.5 billion in sales. S&S is a leading distribution platform with sustainable competitive advantage following significant strategic investments in its geographic reach, people and technology. Today, S&S has the largest one & two-day distribution footprint in the industry, with its products reaching 99 per cent of the US and Canada population within two days and 44 states in just one day.
John Compton, CD&R Operating Partner and former President of PepsiCo, has assumed the role of Chairman of the S&S Board. Jim Shannon, S&S President who has been with the company for 30 years, has assumed the role of Chief Executive Officer. The transaction was originally announced on 20 January, 2021.
