Huffy To Sell Inventory Division
DAYTON, Ohio (AP) _ Huffy Corp. has reached an agreement to sell its inventory-services division for $84.75 million.
The sporting goods company announced Monday that it will sell its San Diego-based Washington Inventory Service to a group led by Sterling Investment Partners LP of Westport, Conn.
The division provides inventory and information-gathering services. It employs 11,000 workers in 158 offices in the United States.
Huffy said money from the sale will be used to retire its debt and reduce its borrowing levels.