Terry and Kim Pegula, who own the Buffalo Bills and Buffalo Sabres, have purchased a majority interest in distributor ADPRO Sports (asi/105224). Financial terms of the deal were not disclosed. ADPRO is a pro sports licensee that also specializes in providing team uniforms for all levels, offering brands like Nike, Under Armour and New Era.
“Terry and I have identified potential for significant national growth with ADPRO and see it as a tremendous asset for Buffalo, which makes it a perfect fit as our next investment in the area,” said Kim Pegula, who also co-owns Pegula Sports and Entertainment (PSE) with her husband. “Not only has ADPRO provided great value as a partner of the Bills, Sabres and our additional companies, it is an emerging leader in the multibillion-dollar branded merchandise market. It is our goal to expand its national presence and notably increase its Western New York workforce.”
According to the agreement, Ron Raccuia – a former pro sports agent – will remain as president of ADPRO and maintain ownership in the new partnership. The existing ADPRO management team will remain in place as well. Raccuia will also lead ADPRO’s integration with the PicSix Creative agency, which the Pegula’s launched earlier this year. PicSix operates as a full-service creative agency, offering graphic design, video production, digital media development, PR and media event execution, and social media marketing and management.
ADPRO, meanwhile, holds licenses to provide uniforms for the NFL and NHL and has plans to soon enter the NBA market. The firm also sells branded merchandise to collegiate and high school clients, as well as corporate customers like M&T Bank and Blue Cross Blue Shield of WNY. ADPRO employs about 100 people at its facility in Buffalo.
“Partnering with the Pegula family will enable ADPRO to grow significantly on a national scale, and create a synergy between two emerging companies in the sports business,” Raccuia said. “Just as ADPRO has been a leader in the team sports and branded merchandise business, PSE has been an innovator at the forefront of trends in the sport and entertainment industries. Combining our strengths offers us the ability to produce complete services that rival any company in the nation, and increases our ability to deliver results for our partners.”
According to media reports, ADPRO generates about $20 million in total annual sales.