NHL approves Hoffmann Family acquisition of Pittsburgh Penguins

PITTSBURGH — The NHL has cleared the Pittsburgh Penguins’ prospective buyer.

U.S.-based Hoffmann Family of Companies announced on Tuesday that it had received unanimous approval from the NHL Board of Governors to acquire the team.

In a release, HF Companies said the transaction is expected to close “imminently.” Financial terms were not disclosed.

PREVIOUS COVERAGE >>> Hoffmann Family enters definitive agreement to acquire Pittsburgh Penguins from Fenway Sports Group

“This is a defining moment for our family,” said Geoff Hoffmann, CEO of HF Companies’ private equity arm. “The Penguins represent everything Hoffmann Family of Companies stands for — community, excellence and long-term thinking. We look forward to building on the team’s success by providing support and resources to both Kyle Dubas and the hockey operations team, as well as the established leadership group on the business side. We’re proud to represent this storied franchise and are eager to become an active, invested part of the Pittsburgh community.”

George Hoffmann will serve as the team’s governor, alongside alternate governors Greg Hoffmann, CEO of the HF Companies’ real estate arm; Kyle Dubas, Penguins general manager and president of hockey operations; and David Hoffmann, founder and chairman of HF Companies.

HF Companies would take ownership from Fenway Sports Group, which purchased the Penguins in 2021 for $900 million from Ron Burkle and Lemieux.

Founded in 1989, HF Companies owns Viking Plastics, headquartered in Meadville, and DHR Global, an executive search firm headquartered in Chicago with offices in Pittsburgh and Philadelphia.

The firm also owns five-time Kelly Cup champions the Florida Everblades of the ECHL. The Everblades are an affiliate of the St. Louis Blues.

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