In 2011, Herff Jones merged with Varsity Brands. Its founder and CEO, Jeff Webb, became president and CEO of Herff Jones.[1] Herff Jones acquired BSN Sports in 2013.[2][3]
In June 2014, it was announced that the company would operate under the Varsity Brands name to reflect a more integrated operation.[3] The company was then sold to the private equity group Charlesbank Capital Partners.[2] In 2018, it was sold to Bain Capital for around $2.5 billion.[2]
Adam Blumenfeld, CEO of BSN Sports since 2007, was named CEO of Varsity Brands in 2017.[4]
In 2023, Varsity Brands sold the Herff Jones graduation business to Atlas Holdings.[5]
In May 2020, Varsity Brands faced a consolidated lawsuit[6] over monopoly control in the cheerleading apparel industry.[7]
In September 2022, Varsity Brands also faced two lawsuits regarding sexual assault charges related to Varsity-Brands-connected coaches.[8][9]
In May 2024, Varsity Brands and its previous owners agreed to pay $82.5 million to settle a class-action lawsuit accusing them of monopolizing the cheerleading competitions, camps, and apparel markets. This settlement follows a $43.5 million antitrust settlement from October 2023. Key elements of the 2024 settlement include removing the requirements for cheerleaders to attend Varsity-run camps for championship eligibility and stay at Varsity-approved hotels and ending information sharing between Varsity and the U.S. All Star Federation, which was founded by Varsity.[10]
