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Buyout firm KKR & Co. (NYSE:KKR) agreed to purchase sports uniform and school yearbook maker Varsity Brands from Bain Capital for $4.75 billion, including debt.
KKR will own Varsity Brands through its Americas private equity fund, according to a Reuters report on Wednesday, which cited people familiar with the matter.
Bain purchased Varsity Brands from PE firms Charlesbank Capital Partners and Partners Group for around $2.5 billion in 2018.
Reuters reported in November that Bain Capital was evaluating a sale or an initial public offering of Varsity Brands that was expected to value the maker of sports uniforms and school uniforms at more than $6 billion.