Baseball Cap Maker New Era Picks JPMorgan to Lead IPO

New Era Cap, the maker of caps for major US sports leagues, has started to fill out its advisory ranks as it prepares for an initial public offering, according to people with knowledge of the matter.

(Bloomberg) — New Era Cap, the maker of caps for major US sports leagues, has started to fill out its advisory ranks as it prepares for an initial public offering, according to people with knowledge of the matter.

New Era, which is backed by the National Football League, Major League Baseball and the National Basketball Association, has chosen JPMorgan Chase & Co. as lead underwriter for a listing that could take place in 2024, said the people, who asked to not be identified discussing confidential information. The exact timing of a listing is yet to be finalized.

Representatives for New Era and JPMorgan declined to comment.

Reuters reported last month that the company had started to interview investment banks for a possible 2024 stock market debut that could value it at as much as $5 billion.

Planned listings of consumer and retail-exposed companies are starting to populate the IPO pipeline after German footwear maker Birkenstock Holding Plc set a price range and commenced its investor roadshow for its up to $1.6 billion offering this week. SoftBank Group Corp.-backed activewear maker Vuori Inc. and Wilson tennis rackets maker Amer Sports are both exploring potential listings next year, Bloomberg News has reported.

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