Miken Sports sold to California company

La Crosse Tribune, Nov 23, 2004 by Cahalan, Steve

CALEDONIA, Minn. - Miken Sports, a Caledonia company that makes highperformance softball and baseball bats from carbon fiber and fiberglass, has been purchased by K2 Inc. of Carlsbad, Calif., which describes itself as the nation's largest manufacturer of sporting goods.

K2 bought Miken from Jeb Griffith of Caledonia about two weeks ago for an undisclosed price, said Dudley Mendenhall, chief financial officer of the California company.

"I think for now we plan to stay put," Mendenhall said Monday, when asked if K2 might move Miken's operations.

"They have a nice operation there and some key employees there. For now, we would plan on keeping that business intact."

Mendenhall did not rule out moving the business at some point in the future. "We're constantly looking for ways to improve efficiencies and operations," he said. But there are no specific plans to move Miken, he said.

"I don't expect any immediate impact" on employment at Miken, Mendenhall said.

Miken has about 60 employees.

"They have a great composite bat technology, and that's an area that is growing in the marketplace," Mendenhall said of K2's decision to buy Miken. "This is a great fit with our Rawlings and Worth" brand names. K2 acquired Rawlings in March 2003 and Worth in September 2003.

Besides Rawlings and Worth baseball and softball products, K2 owns such brand lines as Shakespeare and Pflueger fishing equipment.

Miken began in 1997. Griffith soon became a partner in the business and bought out his two partners in 1998. The business was in Hartland, Wis., until it moved to Caledonia in spring 1999.

Griffith said Monday he sold Miken partly because he is 66 years old, and because "people want you when you're at the top of your game" as Miken has been.

He still owns the Miken buildings and land, and is leasing them to K-2.

Griffith, who was chief executive officer, and his son, Pete Griffith, who was president, both left Miken when it was sold.

Jeb Griffith started Winnebago Software in Caledonia in 1962: He sold it in January 2000 to, Sagebrush Corp. of - Burnsville, Minn., which still has facilities in Caledonia.

Sagebrush leases its buildings there from Griffith.

Jim Hoscheit became business manager for Miken and head person at the Caledonia facilities with the sale. He has been with Miken since 1998, and was vice president of sales and marketing at the time of the sale.

"I'm excited about the potential growth opportunity for Miken, with the integration of the K2 and Rawlings resources available to us," Hoscheit said.

"When they (K2) say they have no immediate plans (to move Miken), I believe that," Hoscheit said. "I don't think anyone can forget the longevity of the company" in Caledonia. "Our plans right now, our goal, is to kind of carry the torch and make the company grow in Caledonia."