KKR-backed Varsity Brands is making its first acquisitions since the private equity giant purchased it for $4.5 billion in 2024, targeting two specialty online retailers that serve the youth club sports market: Soccer.com parent Sports Endeavors and lacrosse retailer Lax.com.
Key Takeaways
- Varsity Brands is acquiring Sports Endeavors (Soccer.com) for an estimated $300 million to $400 million and Lax.com in separate deals
- Soccer.com generated $117.6 million in online sales in 2025; Lax.com produced $2.3 million in annual online revenue
- Varsity Brands boosted a $2.4 billion loan by approximately $400 million to fund the Sports Endeavors acquisition
- Sports Endeavors has more than 500 employees and is based in Hillsborough, North Carolina
- These are the first acquisitions since KKR acquired Varsity Brands for $4.5 billion in 2024
From High School Side Project to $400 Million Exit
The Sports Endeavors story is a notable youth sports origin. Mike and Brendan Moylan founded the company while still in high school, producing their first Eurosport soccer catalog in 1984 with a mailing list of just 6,000 people. A decade later, in 1994, they registered the Soccer.com domain, staking an early claim in e-commerce.
By 2025, that early bet had grown into a business generating $117.6 million in online sales with a workforce of more than 500. Seawall Capital acquired a majority stake in Sports Endeavors in 2022, setting the stage for this exit to Varsity Brands.
Why Soccer and Lacrosse, and Why Now
Varsity Brands, long known for its dominance in cheerleading and spirit industries, is expanding into two growing participation segments in American youth sports. The acquisition targets are not general sporting goods retailers. According to earlier reporting on the deal’s financing, the then-unidentified target “sold uniforms, apparel and equipment to private club teams in the U.S. but is mainly focused on soccer-related products.”
That club-level focus is central to the deal’s logic. Youth soccer and lacrosse programs operate on recurring purchasing cycles: uniforms, training gear, and equipment refreshed seasonally or annually. For a company backed by KKR capital, these revenue streams from club accounts represent predictable, recurring cash flow.
Lax.com, founded in 2000 and based in Norwalk, Connecticut, is a much smaller operation with 45 employees and $2.3 million in online annual revenue. It holds a premium domain in a sport expanding its geographic footprint at the youth level. The acquisition price for Lax.com was not disclosed.
How Varsity Brands Funded the Deal
Varsity Brands boosted an existing $2.4 billion loan by approximately $400 million specifically to fund the acquisition of the unnamed sports retailer, which has since been identified as Sports Endeavors.
KKR has also been active in adjacent sports deals. In February 2026, the firm agreed to acquire Arctos Partners for $1.4 billion in cash and equity, deepening its exposure to sports ownership and infrastructure. The Varsity Brands acquisitions fit within a broader thesis that youth and amateur sports represent a consolidation opportunity across retail, events, and services.
Consolidation Pressure on Youth Sports Specialty Retail
For B2B operators currently supplying uniforms, apparel, and equipment to youth soccer and lacrosse clubs, the competitive picture has shifted. A well-capitalized roll-up now controls two of the most recognizable domain names in their categories, backed by a firm with $4.5 billion already committed to the Varsity Brands platform.
Smaller regional suppliers and online retailers serving club teams should take note. Varsity Brands now controls category-leading platforms in soccer and lacrosse specialty retail at the club level.
On a separate note, Varsity Brands founder Jeff Webb died last month after suffering a head injury during a pickleball game.
Varsity Brands Acquires Soccer.com for Youth Sports Operators
Club directors and program administrators sourcing uniforms and gear for youth soccer and lacrosse teams are now negotiating with a vendor backed by KKR‘s institutional capital. Purchasing decisions that once involved independent specialty retailers now feed into a consolidating platform with the scale to offer volume pricing and exclusive league agreements. Facility investors and club operators building long-term supplier relationships should evaluate contract terms carefully, particularly exclusivity clauses, as Varsity Brands integrates Soccer.com and Lax.com into its supply chain. Operators in adjacent youth sports verticals, including volleyball and field hockey, should monitor whether Varsity Brands extends this acquisition strategy further. directly.
Source: Sportico
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