All Corporations articles – Page 72
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Article
Bike Fun changes hands, Canyon sees takeover interest
Bike Fun International (BFI), a bicycle maker based in the Czech Republic, and Consillium, a Prague-based private wealth management firm owned by Tomas Němec, have agreed on a transaction that will see Consillium acquire a 100 percent share in BFI. The deal was agreed on Oct. 1 and is expected ...
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News briefs
Dorel is to be taken private
Dorel Industries, the Canadian company known in our sector for its numerous bike brands (Caloi, Cannondale, GT, Mongoose, Schwinn, etc.) and also involved in home products and juvenile furniture, has reached an agreement in principle with various investors that would take it out of the Toronto Stock Exchange. In the ...
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News briefs
Sweaty Betty is reportedly looking for a new owner
Sweaty Betty, the British brand of women’s activewear, has reportedly asked Goldman Sachs to help find a new investor. According to The Times, it is seeking a valuation of about £250 million (CONVERSION €278.16 million). The brand currently operates more than 60 mono-brand stores in the U.K., the U.S., Canada ...
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News briefs
Bradshaw Taylor acquires Sherpa Adventure Gear
Bradshaw Taylor, which has been the distributor of Sherpa Adventure Gear for many years, has agreed to take over the brand and its assets. Corry Taylor, the owner of the U.K.-based wholesaler, will be its new chief executive. Sherpa Adventure Gear will continue a partnership with Innov8 Partners for sales ...
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News briefs
JD’s executive chairman sells shares
Peter Cowgill, executive chairman of JD Sports Fashion, has sold 2,587,326 shares in the British company at a price of 745.61 pence per share, leading to total proceeds of £19,291,102 (€21,406,962-$24,889,334). The retailer’s share price has been sliding in the last five days from around 800 pence to less than ...
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News briefs
Melchers Group combines Venice Beach and Joy Sportswear
The German Melchers Group, which has more than 50 brands from various industries under its umbrella, has reorganized its apparel segment. Its Scoretex subsidiary will serve as the “Home of Brands” for all four of the group’s sports brands. In addition to the labels Venice Beach and Curvy Fit by ...
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News briefs
Whoop is valued at $1.2 million in financing round
Here is another young connected fitness company that is commanding a high valuation. Whoop, an “athletic performance maintenance company” headquartered in Boston that provides memberships for 24/7 coaching to improve health and the free Whoop hardware that goes with it, has closed a $100 million Series E Financing round at ...
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News briefs
Under Armour divests MyFitnessPal, will discontinue Endomondo
Under Armour (UA) has entered into a definitive agreement to sell the MyFitnessPal platform to Francisco Partners, a global investment firm specializing in technology businesses, headquartered in San Francisco. MyFitnessPal, an activity tracker that helps around 200 million users in their health and fitness activities, will become a stand-alone company. ...
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ArticleTechnogym wants home fitness to generate half of €1 bn in sales
In reporting a 53 percent increase to €98 million in its home fitness segment for the first nine months of this year, Technogym said that its board of directors has approved a new three-year business plan, called Technogym At-Home, that calls for a doubling in the segment’s revenues from a ...
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ArticleCallaway to merge with Topgolf
Callaway Golf Co. and the Topgolf Entertainment Group, a major U.S.-based operator of golf driving ranges, have agreed to merge in an all-stock transaction. It’s an interesting way of creating a vertically integrated operation, without offending Callaway’s wholesale partners and it bears some similarities with what Peloton has so successfully ...
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News briefs
Many PE firms are reportedly eyeing Canyon Bicycles
Citing anonymous sources, Bloomberg has reported that a number of private equity firms – such as the Carlyle Group, KKR & Co., Advent International, Apax Partners, General Atlantic and Permira – are considering takeover bids for Canyon Bicycles. The German company has been working in this direction with Robert W. ...
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News briefs
Decathlon invests €4 million in Cyclofix
Cyclofix, a French on-site bike repair service, has raised €5 million in an investment round including €4 million coming from Decathlon and €1 million from Via ID, a business accelerator that supports innovative start-ups in the field of new and sustainable mobility. Cyclofix, created by Alexis Zerbib in 2016, is ...
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News briefs
Huub launches a crowdfunding campaign
Huub, a British producer of apparel and accessories for endurance sports, has launched a crowdfunding campaign on Crowdcube. It hopes to raise at least £250,000 (€277,000-$327,000) so as to “continue to scale its direct-to-consumer offering, expand the product range in its fast-growing cycling category, cater for the increasing number of ...
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News briefs
Rawlings acquires Easton Diamond Sports
Rawlings Sporting Goods and Easton Diamond Sports have entered into a definitive agreement for Rawlings to acquire Easton, the American baseball and softball brand. The financial terms of the deal have not been disclosed. The existing shareholders of Peak Achievement Athletics, Easton’s parent company, will continue to participate as minority ...
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ArticleAdidas may offload Reebok by March
Naming Anta Sports Products and VF Corp. as potential buyers for the brand, Germany’s usually well-informed Manager Magazin reports that the Adidas Group is planning to sell its Reebok division by next March. A spokesperson for the group said the company has a policy of not commenting on press rumors, ...
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Article
Little harm for Fischer from Ukrainian plant fire
In its first statement since a fire broke out at its Ukrainian joint venture factory in Mukachevo during the night of Oct. 11 to 12, Fischer Sports said it is immediately relocating some of its ski production to its own Austrian plant in Ried. By adding labor shifts at both ...
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ArticleUnder Armour is centralizing and digitalizing its European operations
Under Armour has decided against reopening its physical sales offices in Paris, Munich, Manchester and Barcelona, preferring instead to coordinate in-person and remote selling functions in the respective markets from a new, “futuristic” Digital Hub at its European headquarters in Amsterdam. The regional offices had been temporarily closed in the ...
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News briefs
Google could make new concessions to get Fitbit's takeover approved
According to Reuters, the deadline for the approval by European anti-trust authorities of Google’s $2.1 billion acquisition of Fitbit has been extended from Dec. 23 to Jan. 8 after Google expressed some readiness to change the concessions it would be willing to make. This came after receiving feedback from a ...
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News briefs
The Bic Sport brand will disappear by year-end
Bic Sport, the leading French surf hardware brand, will soon disappear after more than 40 years. The brand will be renamed Tahe, following its acquisition two years ago by Tahe Outdoors. Bic Sport branded products will not be available after the end of 2020, or earlier if stocks are exhausted ...
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News briefsNew owners and new e-commerce focus for 4FRNT
An American freeride and backcountry ski company, 4FRNT, has been taken over by a group of private entrepreneurs and long-time friends who are said to be bringing a combination of financial resources and experience in the ski industry and digital operations to develop the brand into a more modern e-commerce ...
