Terms of the agreement were not disclosed. The current partnership was set to expire at the end of this year.
New Era has been a licensee since Minor League Baseball instituted a licensing program in 1991. The Buffalo, N.Y., based company has been the Official Cap of Minor League Baseball since 1995, and the Official Batting Practice Cap of Minor League Baseball since 2005. New Era was founded in 1920 and has been providing caps to Major League and Minor League Baseball clubs since the 1930s.
"New Era has been one of our most valued partners for a long time and we are extremely pleased to be extending our on-field headwear agreement with them," said Minor League Baseball president, Pat O'Conner.
"Continuing our partnership with Minor League Baseball makes sense as baseball is the backbone of our brand," said Pete Augustine, president of New Era Cap. "New Era is excited that Minor Leaguers will have the chance to wear our products as they embark on their journey to the Major Leagues."
"We are both committed to providing the highest quality products to our players and fans, so it's a natural fit," remarked MiLB director of licensing, Tina Gust. "The New Era brand and the 59FIFTY cap have become synonymous with baseball."
Headwear sales have accounted for close to one-third of the nearly $50 million that Minor League Baseball has averaged in retail merchandise sales over the last three years.
About New Era Cap Co., Inc.
New Era products have given consumers a canvas for showcasing their individuality and personal style for more than 90 years. With billions of headwear styles, New Era is best known for being the official on-field cap of Major League and Minor League Baseball, as well as having created the iconic 59FIFTY fitted cap. New Era continues to be a lifestyle brand of choice, not only with its headwear collections, but also accessories and apparel lines for men, women and youth. The company is headquartered in Buffalo, N.Y., operates facilities in California, Canada, Europe, Japan and Hong Kong, and is a Participating Company (PC) of the Fair Labor Association. For more information on the brand, please visit www.neweracap.com online.