Fortune published The Business of Cheer.
Last year Varsity hit $300 million in revenue, an 8% increase over 2010. The company now boasts over 20 brands — from apparel lines to national competitions at Disney’s Magic Kingdom to American Cheerleader magazine — and merged with class ring manufacturer Herff Jones in June 2011. Nearly every uniform sold or camp attended by high school or college cheerleaders is part of Varsity’s vast empire of pep. So where does it go from here?