Varsity Brands CEO on PE Ownership and the Business of Cheer
Varsity includes a cheerleading business and an athletic apparel division.
Adam Blumenfeld, CEO of Varsity Brands, spoke with Front Office Sports about his experience with major private equity owners and the business of cheerleading. Varsity Brands, a KKR-owned company, includes cheerleading business Varsity Spirit and athletic apparel and equipment supplier BSN Sports. Blumenfeld has experienced controversy surrounding lawsuits alleging monopolies and sexual abuse allegations against cheer coaches.
Despite this, he has overseen significant business expansion, including BSN's acquisition of a company selling soccer and lacrosse uniforms and gear, as well as the launch of a pro cheerleading league. Blumenfeld expressed positive views on private equity, citing KKR's focus on commercial and philanthropic aspects, including the employee ownership program that will benefit employees if the company is sold.
He also praised the success of the Pro Cheer League, which exceeded expectations with over five million unique viewers. Blumenfeld addressed concerns about sexual abuse, noting that the company has implemented strict safety and security protocols since receiving accreditation from Praesidium and investing in additional security measures like hiring 70-80 undercover police at large events.
Written by urgent.news from Front Office Sports's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
