More corporate news – Page 104
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News briefs
Hero Cycles, the major Indian bicycle producer, has acquired control...
Hero Cycles, the major Indian bicycle producer, has acquired control of Avocet Sports, a major distributor of cycling products based in Manchester, U.K. In its attempt to enter the European market, Hero started two years talks for the takeover of Mifa, the financially stricken German bike producer, but they failed. ...
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Shimano Europe has unveiled plans to open an “Experience Center”...
Shimano Europe has unveiled plans to open an “Experience Center” in the Netherlands in the spring of 2017. The center will be built in Valkenburg, in the southern part of the country, on the site of a former brewery. The activities offered by the park will focus on cycling, fishing ...
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News briefs
Alibaba Group Holding has established a new Alibaba Sports Group...
Alibaba Group Holding has established a new Alibaba Sports Group together with Sina Corporation and Yunfeng Capital. The idea is to leverage Alibaba's large e-commerce footprint in China with Sina's media resources to create an integrated, internet-based sports platform for the benefit of the sports industry, sports teams, sports fans ...
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News briefs
Nike has a new $2.0 billion revolving credit facility with...
Nike has a new $2.0 billion revolving credit facility with Bank of America, Citibank, Deutsche Bank and HSBC. Replacing a $1.0 billion line of credit, it matures in July 2020, with option for a two-year extension. At the end of the last quarter, Nike had cash and short-term investments worth ...
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News briefs
The share capital of IC Group, parent company of Peak...
The share capital of IC Group, parent company of Peak Performance, has been raised by 0.3 percent to 170,562,470 Danish kroner (€22.9m-$26.1m) through the exercise of warrants under two different programs that priced the new shares at DKK 136.00 and DKK 166.80, respectively. IC Group has derived gross proceeds of ...
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News briefs
Assos of Switzerland, the well-known maker of bikewear from Lugano,...
Assos of Switzerland, the well-known maker of bikewear from Lugano, has changed ownership. The founding Maier family has sold its shares to a pool of investors led by Phil Duff, the former chief executive of Black Diamond, the U.S. brand of outdoor and snow sports equipment. Duff will reportedly take ...
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News briefs
Thule Group has signed an agreement to sell its snow...
Thule Group has signed an agreement to sell its snow chain business to an Austrian-based company, Schneeketten. The divestment will allow Thule to focus more on its core outdoor and bags segment. Its snow chain division posted sales of 136 million Swedish kronor (€14.6m-$16.5m) in 2014. Its staff of 145 ...
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News briefs
Global Surf Industries (GSI) is now entirely owned by its...
Global Surf Industries (GSI) is now entirely owned by its founder Mark Kelly, according to reports in the Boardsport Source news service. Kelly started the company in 2002. Since then, GSI has evolved into one of the largest surfboard and stand-up paddleboard companies in the world, with domestic operations in ...
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News briefs
Suunto, a subsidiary of Amer Sports, has opened a new...
Suunto, a subsidiary of Amer Sports, has opened a new Mobile Competence Center in Tampere, Finland. The facility, which was inaugurated on Aug. 10, is focused on the development of digital services and native applications for both iOS and Android. Suunto said it decided to start the center because of ...
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Short stops
Sports Direct International has acquired a 25% stake in Four...
Sports Direct International has acquired a 25% stake in Four Marketing, the British distributors of various fashion brands including Stone Island, CP Company and 7 For All Mankind
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News briefs
Several Dutch shoe retailers have filed for bankruptcy in the...
Several Dutch shoe retailers have filed for bankruptcy in the last few months, as reported in Shoe Intelligence, blaming competition and the economy. This time it's the turn of a major sporting goods retailer, Telstar Sports & Fashion, which operates several megastores in the country. According to Sport Partner, one ...
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News briefs
Since the autumn of 2014, there has been a steady...
Since the autumn of 2014, there has been a steady rise in the number of bankruptcies among Norwegian sporting goods retailers. The number increased from 15 bankruptcies in the first half of 2014, to 23 in the second half of last year, before rising further to 24 in the first ...
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News briefs
Pentland Group disclosed that it has made an investment in...
Pentland Group disclosed that it has made an investment in Tracksmith, a developer of premium performance running apparel, based in Boston, participating with others in a $4 million round of financing. The investment will help Tracksmith to further expand the product offering, to boost marketing and to create physical training ...
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News briefs
Dalian Wanda Group Co. has agreed to acquire full ownership...
Dalian Wanda Group Co. has agreed to acquire full ownership of the World Triathlon Corporation (WTC), which owns the Ironman brand and races, for $650 million. The takeover is reportedly going to make Dalian Wanda the world's biggest operator in the sports business. It already organizes many sports events and ...
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News briefs
Under Armour's shareholders approved a stock split on Wednesday, creating...
Under Armour's shareholders approved a stock split on Wednesday, creating a new C class of non-voting shares that will allow the company's founder and chief executive, Kevin Plank, to keep control of the company with 15 percent of the shares and 67 percent of the votes, but with a five-year ...
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News briefs
The board of another fast-growing U.S. company, Skechers USA, has...
The board of another fast-growing U.S. company, Skechers USA, has decided to implement a three-for-one stock split on Oct. 15, subject to shareholders' approval at its annual meeting on Sept. 24. The price of its shares nearly tripled in the past 12 months. At its stock market close of $142.73 ...
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News briefs
Callaway Golf Co. has issued 2,318,399 new shares to retire...
Callaway Golf Co. has issued 2,318,399 new shares to retire $17,388,000 worth of 3.75% convertible senior notes maturing in August 2019. The company will also make an unspecified cash inducement payment as part of the transaction, which will reduce the outstanding principal of the notes to $27,517,000. Earlier, Callaway had ...
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News briefs
Adidas has completed the purchase of a new warehouse outside...
Adidas has completed the purchase of a new warehouse outside Moscow at a price estimated by local sources at between $70 million and $100 million. Located in a warehousing complex where it has been renting more than 65,000 square meters of space since 2012, the new warehouse is nearly double ...
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News briefs
Adidas is testing different workplace concepts at its headquarters in...
Adidas is testing different workplace concepts at its headquarters in Herzogenaurach in a new office building named “Pitch,” where 300 of its brand management employees were moved at the beginning of the month. The new office space does not embody any finished concept but is the flexible beta version of ...
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News briefs
United Sports Brands is the new name of the combined...
United Sports Brands is the new name of the combined global organization resulting from the already announced merger of Shock Doctor Sports and McDavid. It will serve as the corporate parent of the two companies' brands: Shock Doctor, McDavid, Cutters and XO. United Sports Brands will move to a new ...
