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Article Date: January 2017
Word Count: 209

Inaria Uniform Biz Sold Back to Original Owners by PSG


The soccer uniform making part of the business, which Performance Sports Group bought from Saverio Michielli four years ago for C$7.1 million, will be sold back to him for approximately C$2.1 million, pending bankruptcy court approval. The purchase agreement also gives PSG a release from a disputed claim of $367,000 from the original transaction. Inaria, which had lost money every year except one since PSG bought it and was losing money this year, was an excluded asset from the stalking horse bid of Sagard Capital and would have been liquidated absent the bid of the former owner. While this is ... Log in to view full article.

 


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