canadian private equity group purchases kahunaverse

WINNIPEG, MANITOBA (November 4, 2020) - Greyrock Capital Inc., a Winnipeg-based private equity group, announced the acquisition of Kahunaverse Sports Group, Inc., and its subsidiary company, Soccer Express Trading Corp.

Kahunaverse operates under the Home Run Sports, SoccerX and Kahunaverse Sports banners and is the leading Canadian provider of team sports apparel and equipment to academic institutions, sport associations, clubs and leagues throughout Canada.

Greyrock co-founder David Blatt will immediately step into the role of CEO of Kahunaverse Sports Group, Inc.

"Notwithstanding the real challenges we are all facing today with COVID-19, people's passion for participating in team sports will always be a cornerstone for our Canadian identity," Blatt said. "We are excited about the opportunities to build on the strong relationships with our customers and partners and to invest in the strategic growth of the business."

In addition to growth capital, Greyrock brings senior management expertise and experience in a variety of sport-related businesses, particularly in the hockey channel.

"We feel strongly about our 'OneTeam' approach going forward and our intention would be to amalgamate Kahunaverse, focus on ongoing initiatives to integrate our internal systems and operations, and invest in technology solutions that enhance our customer and partner experience and help us to be an employer of choice," Blatt said.

About Kahunaverse Sports Group

Kahunaverse Sports Group evolved through the merger of Big Kahuna Sport Company and Home Run Sports in 2017, and the subsequent acquisition of Soccer Express in 2018, to become Canada's largest team product provider to academic institutions, sport associations, clubs and leagues, focusing on teamwear and team equipment sales within key sports categories.

Leveraging its worldwide supply chain and strong relationships with suppliers and brand partners, the Group operates across Canada through an experienced national sales team, an expanding eCommerce platform that includes online team and club stores and strategc retail locations.

Home Run Sports is Canada's largest baseball, softball and slow-pitch provider of Diamond team uniforms, apparel and equipment. Soccer Express is Canada's foremost provider of soccer team uniforms, apparel and equipment. For more information go to www.kahunaverse.com or www.soccerx.com.

About Greyrock Capital, Inc.

Greyrock Capital is a Winnipeg, Manitoba-based private equity firm that takes an entrepreneurial approach to investing, with a longer-term focus on building enterprise value through strategic investments and providing necessary financial resources and management discipline. The ownership team is comprised of successful entrepreneurs and business executives, who bring a wealth of business knowledge and experience.

Greyrock has a large sport-related platform and ownership in several sport-related businesses, including: Kahunaverse Sports Group, Play Hockey Manitoba, Play Hockey USA and 50 Below Sports and Entertainment, which includes the Western Hockey League's Winnipeg Ice Hockey Club.