Company Announcements

BATON ROUGE, La., June 07, 2024 (GLOBE NEWSWIRE) -- Marucci Sports LLC, a wholly owned subsidiary of Fox Factory Holding Corp. (Nasdaq: FOXF), announced today that it has entered into a license agreement with Major League Baseball (MLB) for its Marucci and Victus brands to exclusively be the Official Bats of MLB. In addition, the agreement provides for the exclusive rights to use MLB trademarks in connection with Marucci’s Smart Bat products featuring the embedded Diamond Kinetics bat sensor. The exclusive license will begin on January 1, 2025, and continue until December 31, 2028.

This agreement with MLB exemplifies the leadership position of Marucci and Victus brands as the premier bat choices worldwide, as they are the top two most-used bats among MLB players and have long been part of the MLB landscape.

Another brand in Marucci Sports’ portfolio, Lizard Skins, is currently the Official Bat Grip of MLB. The combined force of Marucci, Victus, and Lizard Skins continues to build an all-star roster dedicated to delivering top-tier equipment to players at all levels of the game.

Marucci expects to release more information later in the year through a joint announcement with MLB.

Major League Baseball and MLB are registered trademarks of Major League Baseball Properties, Inc. Diamond Kinetics is a registered trademark of Diamond Kinetics, Inc.

About Marucci

Based in Baton Rouge, Louisiana, Marucci was started in 2004 by two former Big Leaguers and their athletic trainer who began handcrafting bats from their garage for some of the best players in the game. Fast forward to today, that dedication to quality and understanding of players’ needs has turned Marucci into a premier brand in diamond sports across all product categories.

To learn more about Marucci, please visit www.maruccisports.com. Marucci is a registered trademark of Marucci Sports, LLC.

About Victus

Founded in 2012 and growing quickly to become the bat of choice for Big Leaguers, Victus is recognized as an elite baseball brand at every level of the sport today. With design driven craftsmanship and an unprecedented commitment to adaptable performance-based quality, Victus embraces the evolution of the game and salutes the next generation of players who are changing it. With their unique color finishes and logo designs, Victus thrives on setting themselves apart from the competition.

To learn more about Victus, please visit www.victussports.com. Victus is a registered trademark of Victus Sports LLC.

About Lizard Skins

Founded in 1993, Lizard Skins had early success as a top grip amongst cycling enthusiasts. The category eventually expanded to include gloves and grips, and by 2008, culminated in Lizard Skins’ most innovative grip and flagship product: Durasoft Polymer or DSP. This DSP technology provided the path to becoming the #1 grip in baseball and they have since expanded into many sports outside of baseball.

To learn more about Lizard Skins, please visit www.lizardskins.com. Lizard Skins is a registered trademark of Lizard Skins, LLC.

About Fox Factory Holding Corp. (NASDAQ: FOXF)

Fox Factory Holding Corp. (the “Company”) is a global leader in the design and manufacturing of premium products that deliver championship-level performance for specialty sports and on- and off-road vehicles. Its portfolio of brands, like FOX, Marucci, Method Race Wheels and more, are fueled by unparalleled innovation that continuously earns the trust of professional athletes and passionate enthusiasts all around the world. The Company is a direct supplier of shocks, suspension, and components to leading powered vehicle and bicycle original equipment manufacturers (“OEMs”). The company acquires complementary businesses to integrate engineering and manufacturing expertise to reach beyond its core shock and suspension business, diversifying its product offerings and increasing its market potential. It also provides products in the aftermarket through its global network of retailers and distributors and through direct-to-consumer channels.

FOX is a registered trademark of Fox Factory, Inc. NASDAQ Global Select Market is a registered trademark of The NASDAQ OMX Group, Inc. All rights reserved.

Available Information

Fox Factory Holding Corp. announces material information to the public about Fox Factory Holding Corp. through a variety of means, including filings with the Securities and Exchange Commission, press releases, public conference calls, webcasts, and the investor relations section of its website (https://investor.ridefox.com/investor-relations/default.aspx) in order to achieve broad, non-exclusionary distribution of information to the public and for complying with its disclosure obligations under Regulation FD.

Cautionary Note Regarding Forward-Looking Statements

Certain statements in this press release may be deemed to be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. The Company intends that all such statements be subject to the “safe-harbor” provisions contained in those sections. Forward-looking statements generally relate to future events or the Company’s future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as “may,” “might,” “will,” “would,” “should,” “expect,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,” “contemplate,” “believe,” “estimate,” “predict,” “likely,” “potential” or “continue” or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans or intentions. Such forward-looking statements include, but are not limited to, statements with regard to expectations related to the acquisition of Marucci and the future performance of Fox and Marucci; the Company’s expected demand for its products; the Company’s execution on its strategy to improve operating efficiencies; the Company’s expectation regarding its operating results and future growth prospects; the Company’s expected future sales and future adjusted earnings per diluted share; and any other statements in this press release that are not of a historical nature. Many important factors may cause the Company’s actual results, events or circumstances to differ materially from those discussed in any such forward-looking statements, including but not limited to: the Company’s ability to complete any acquisition and/or incorporate any acquired assets into its business including, but not limited to, the possibility that the expected synergies and value creation from the Marucci acquisition will not be realized, or will not be realized within the expected time period; the Company’s ability to maintain its suppliers for materials, product parts and vehicle chassis without significant supply chain disruptions; the Company’s ability to improve operating and supply chain efficiencies; the Company’s ability to enforce its intellectual property rights; the Company’s future financial performance, including its sales, cost of sales, gross profit or gross margin, operating expenses, ability to generate positive cash flow and ability to maintain profitability; the Company’s ability to adapt its business model to mitigate the impact of certain changes in tax laws; changes in the relative proportion of profit earned in the numerous jurisdictions in which the Company does business and in tax legislation, case law and other authoritative guidance in those jurisdictions; factors which impact the calculation of the weighted average number of diluted shares of common stock outstanding, including the market price of the Company’s common stock, grants of equity-based awards and the vesting schedules of equity-based awards; the Company’s ability to develop new and innovative products in its current end-markets and to leverage its technologies and brand to expand into new categories and end-markets; the spread of highly infectious or contagious diseases, such as COVID-19, causing disruptions in the U.S. and global economy and disrupting the business activities and operations of our customers, business and operations; the Company’s ability to increase its aftermarket penetration; the Company’s exposure to exchange rate fluctuations; the loss of key customers; strategic transformation costs; the outcome of pending litigation; the possibility that the Company may not be able to accelerate its international growth; the Company’s ability to maintain its premium brand image and high-performance products; the Company’s ability to maintain relationships with the professional athletes and race teams that it sponsors; the possibility that the Company may not be able to selectively add additional dealers and distributors in certain geographic markets; the overall growth of the markets in which the Company competes; the Company’s expectations regarding consumer preferences and its ability to respond to changes in consumer preferences; changes in demand for performance-defining products as well as the Company’s other products; the Company’s loss of key personnel, management and skilled engineers; the Company’s ability to successfully identify, evaluate and manage potential acquisitions and to benefit from such acquisitions; product recalls and product liability claims; the impact of change in China-Taiwan relations on our business, our operations or our supply chain, the impact of the Russian invasion of Ukraine or the Israel-Palestine conflict or rising tension in the Middle East on the global economy, energy supplies and raw materials; future economic or market conditions, including the impact of inflation or the U.S. Federal Reserve’s interest rate increases in response thereto; and the other risks and uncertainties described in “Risk Factors” contained in its Annual Report on Form 10-K for the fiscal year ended December 29, 2023 and filed with the Securities and Exchange Commission on February 23, 2024, or Quarterly Reports on Form 10-Q or otherwise described in the Company’s other filings with the Securities and Exchange Commission. New risks and uncertainties emerge from time to time and it is not possible for the Company to predict all risks and uncertainties that could have an impact on the forward-looking statements contained in this press release. In light of the significant uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be regarded as a representation by the Company or any other person that the Company’s expectations, objectives or plans will be achieved in the timeframe anticipated or at all. Investors are cautioned not to place undue reliance on the Company’s forward-looking statements and the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

CONTACT:
Fox Factory Holding Corp.
Jeff Sonnek
646-277-1263
Jeff.Sonnek@icrinc.com