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HOBOKEN, NJ: Major League Baseball announced Tuesday is is acquiring an ownership stake in Rawlings Sporting Goods Co, the league’s longtime baseball and helmet supplier, for approximately $395 million.
MLB is co-investing along with private investment firm Seidler Equity Partners (SEP) for the purchase of the 131-year-old company, which is owned by Newell Brands Inc.
Rawlings, founded in 1887 and based in St. Louis, MO, comprises the Rawlings, Miken and Worth brands.