Fanatics Inc., Jacksonville, Fla., has agreed to acquire certain assets from Vetta Brands, including Top of the World (TOW), Norman, Ok., the collegiate headwear licensee.
The move adds headwear to Fanatics’ vertical manufacturing capabilities and supports its college sports licensing business. The assets being acquired include inventory, college licensing rights and key personnel, according to an e-mail from Fanatics.
Top of the World President Scott Shuler will continue to lead TOW’s business. He will be joining Fanatics Brands as the senior vice president, reporting to Joe Bozich, president of Fanatics Brands.
As part of the deal, Fanatics will save Top of the World from liquidation and restore more than 200 jobs. On August 17, Vetta Brands began liquidating assets, with Top of the World effectively ceasing operations. The liquidation move was attributed to fallout from COVID-19.
Fanatics plans to integrate Top of the World’s headwear manufacturing expertise, inventory and key personnel into the brand, and manufacturing and wholesale apparel division, according to the company. TOW’s internal team will be combined with Fanatics Brands’ design and apparel division. — D.S.
