Club Underdog, a subsidiary of North Sixth Group, has announced it has reached an agreement in principle to acquire a significant ownership stake in Diaza, a fast-growing soccer apparel and sportswear company. Founded by Colombian professional soccer player Diego Hurtado in 2018, Diaza has quickly become a disruptive force in the soccer apparel industry. The company currently outfits more than 500 professional, amateur, and semi-professional clubs and youth academies across nearly a dozen countries, including the United States, Europe, and South America.
Matt Rizzetta, Founding Partner and Chairman of North Sixth Group, expressed enthusiasm for the acquisition, stating, "We have been impressed with Diaza’s growth under the leadership of Diego, and we share many of the same values as it relates to customer commitment and work ethic. We view this as a highly strategic acquisition which adds differentiation, innovation and accretive value to our portfolio of professional franchises and sports assets."
North Sixth Group, through its Club Underdog subsidiary, has a track record of achieving both sporting and business success for professional soccer clubs with rich traditions and high potential. Diego Hurtado, Founder and CEO of Diaza, also commented on the acquisition: "We are honored to be joining the Club Underdog family and to be a part of something bigger. I founded this company six years ago with a vision to bring passion, commitment and relentless focus on the customer, which we felt was lacking from the larger apparel providers in the global soccer landscape. We believe the combination of Diaza’s experience in the apparel category along with Club Underdog’s track record owning and operating successful businesses inside and outside of sports, will be a winning combination that will pave the path for the future of how soccer apparel is worn and enjoyed by players and clubs across the world."
Partners in the ownership group include visionary entrepreneur Morgan Harris, media and sports expert Matt Rizzetta, and private equity industry veteran Daniel Hall. Morgan Harris, Founding Partner and CEO of North Sixth Group, stated, "Diego is a rare breed of entrepreneur that has the grit and determination to succeed in business today. This aligns perfectly with the operating principles of Club Underdog and we are honored to have Diaza join us on our common vision to propel the social, commercial and competitive benefits of soccer forward both in the United States and abroad."
Daniel Hall, a partner in Club Underdog, emphasized the operational and financial synergies expected from the acquisition: "We see several operational and financial synergies and value creation drivers by integrating Diaza into our Club Underdog platform of professional football assets. By bringing Diaza into Club Underdog, we are able to add diversified revenue streams generated through merchandising offerings as well as bring in-house apparel production capabilities that are unique and differentiated from traditional sports ownership groups."
Representing North Sixth Group on the transaction were Simone Calzolai, Esq. in the European Union, and Dave Barry in the United States. The transaction is expected to close within 30 days.
