06:55 AM EDT, 07/05/2024 (MT Newswires) -- KKR (KKR) agreed to buy Varsity Brands from buyout firm Bain Capital for about $4.75 billion, including debt, Reuters reported Wednesday, citing people familiar with the matter.

KKR will own Varsity Brands, a US-based maker of jerseys and school yearbooks, through its Americas private equity fund, the report said. It will also offer rank-and-file employees of Varsity Brands equity in its North America portfolio companies, Reuters said, adding that KKR committed to offering this to employees from other companies in the portfolio.

KKR, Bain Capital, and Varsity Brands did not immediately respond to MT Newswires' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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