More corporate news – Page 133
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Short stops
Denying rumors about its possible sale of the French company,...
Denying rumors about its possible sale of the French company, an executive of Tecnifibre indicates that it plans to announce some major new product initiatives before the next Ispo fair
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News briefs
Powakaddy has reportedly been bought back by its former owner,...
Powakaddy has reportedly been bought back by its former owner, John de Graft-Johnson, and by the former owner of the Hill Billy brand, David Catford. Its electric golf trolleys will continue to be manufactured in the U.K. According to Sports Marketing Surveys, Powakaddy has a market share of 51 percent ...
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Billabong International told shareholders at its annual meeting that the...
Billabong International told shareholders at its annual meeting that the company remains receptive to takeover offers from third parties. Company officials said they could not tell what led Texas Pacific Group to withdraw its takeover offer 12 days before the annual meeting in the course of the due diligence process. ...
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News briefs
A French label of surf-inspired clothing, Kanabeach, is looking for...
A French label of surf-inspired clothing, Kanabeach, is looking for a buyer at the request of a local court, which has extended the company's receivership until March 2013. One of its biggest assets is a network of 25 stores in urban locations. Its sales have plunged down to an annual ...
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News briefs
More companies besides Scott Sports Group and Patagonia (see related...
More companies besides Scott Sports Group and Patagonia (see related stories in this issue) are acquiring stakes in some of the suppliers of technology and services. Nike has taken a minority stake in a company that it has been a customer of for two years: Llamasoft, which develops supply chain ...
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News briefs
Li Ning is selling 25 percent direct stake in his...
Li Ning is selling 25 percent direct stake in his eponymous firm to Viva China Holdings, a company in which his family has a 56 percent stake, for HK$1.36 billion (€135.6m-$175.4), but the shares will technically remain inside the family. The sum will be paid by Viva China to buy ...
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News briefs
The Lafuma Group has revealed that it is in exclusive...
The Lafuma Group has revealed that it is in exclusive negotiations with Marwyn Management Partners, an investment firm which controls a wide range of companies in the leisure, technology and transportation sectors, to hand over Le Chameau, the French group's division that markets shoes and apparel for hunters. With its ...
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News briefs
Italy's Tecnica Group had already announced a big cut in...
Italy's Tecnica Group had already announced a big cut in its staff, eliminating 118 of the 353 jobs at the company's headquarters at Giavera del Montello, but in the end, technically, it will not lay off any of them. Following four months of negotiations with the unions, 72 employees will ...
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News briefs
The takeover process for the bankrupt MBT by one of...
The takeover process for the bankrupt MBT by one of its Asian distributors, Andy Chaw, has been stopped. The Swiss court in Winterthur, which is handling the case, has reportedly accepted a request by Karl Müller, founder of the company, to review his objections to the sale of the ...
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News briefs
Kästle has moved its head office from Wels to another...
Kästle has moved its head office from Wels to another location north of Salzburg, closer to its Austrian clients. It has taken up a space of 400 square meters in a former glass factory where other important brands such as Quiksilver, Diesel and Ugg have their offices and showrooms.
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News briefs
Coreupt, a French company specializing in freeride skis and accessories, is...
Coreupt, a French company specializing in freeride skis and accessories, is to be liquidated. Established in 2008 by Guerlain Chicherit, a French freeride champion, the brand expanded fast to reach annual sales of about €1.3 million with twelve employees. Unable to finance its growing business, Coreupt went into receivership in May ...
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News briefs
Sportamore, a Swedish online retailer specializing in sports products, has...
Sportamore, a Swedish online retailer specializing in sports products, has been investing in its infrastructure to cope with its expansion plans. Launched at the start of 2010, Sportamore reported sales of nearly 100 million Swedish crowns (€11.6m-$15.1m) the next year. The company has just upgraded its warehouse facility by moving ...
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News briefs
The Swedish golf distributor Pro Backup has merged with the...
The Swedish golf distributor Pro Backup has merged with the Danish golf distributor Lars Kjær & Co. The new company, called Sports Backup, will be one of the largest golf distributors in Scandinavia. For the 2013 golf season, Sports Backup will be responsible for the sale of products from Bridgestone ...
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News briefs
Grandvalira is to invest €6 million in infrastructures, ski slopes...
Grandvalira is to invest €6 million in infrastructures, ski slopes and innovation. The skiing resort, located in the Principality of Andorra, is the largest skiable area in southern Europe, with 205 km of slopes. The investments aim at increasing, in particular, the number of international visitors, mainly from Russia, the ...
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News briefs
Black Diamond Inc. has agreed to buy Pieps, an Austrian...
Black Diamond Inc. has agreed to buy Pieps, an Austrian brand of alpine safety equipment, at a price of €8.0 million in cash. The deal also calls for the American company to assume debts worth €2.1 million, and to make extra payments of up to €2.3 million if Pieps reaches ...
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News briefs
Holmenkol, the German manufacturer of ski wax and other product...
Holmenkol, the German manufacturer of ski wax and other product care items for sporting goods, has been acquired by the Eimermacher Group, which markets a wide range of products from cosmetics to medication for animals. After the last bad winter, Holmenkol had gone into receivership on July 22. Eimermacher, which ...
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News briefs
Pyua, a German brand of sportswear made of recycled and...
Pyua, a German brand of sportswear made of recycled and recyclable fabrics, has changed ownership. Its founder, Timo Perschke, who created the brand in 2008, has sold the brand name and the assets to Christian Benzing, an entrepreneur from Stuttgart, and his newly created company, Sportsman's Delight. Perschke will remain ...
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News briefs
Richemont has acquired Peter Millar from majority stakeholder Winona Capital...
Richemont has acquired Peter Millar from majority stakeholder Winona Capital Management, the U.S. private equity group that acquired a controlling stake in the company in April 2009. Richemont, headquartered in Geneva, already holds a collection of luxury brands including Alfred Dunhill, Cartier, Van Cleef & Arpels, Mont Blanc and others. ...
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News briefs
Wolverine Worldwide plans to offer $375 million worth of senior...
Wolverine Worldwide plans to offer $375 million worth of senior notes to be due in 2020. The proceeds from the offering will go toward the company's acquisition of the Performance + Lifestyle Group of Collective Brands; repaying and ending its existing revolving credit facility; repaying some of Collective's debts; and ...
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News briefs
Jarden Corporation took in about $487 million after fees and...
Jarden Corporation took in about $487 million after fees and expenses from its recent sale of new senior subordinated convertible notes, which are due in 2018. The initial issuance was for $450 million, but institutional investors fully exercised the option to buy another $50 million in convertible notes from Jarden. ...
