More corporate news – Page 33
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News briefs
Sports Direct’s parent may go private
Frasers Group, parent company of Sports Direct and many other operations, has failed to address so far recent rumors that Mike Ashley, its biggest shareholder, may want to take the company private. He already owns about 68 percent of the shares, and an ongoing share buyback program may soon take ...
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Article
Moody’s upgrades Under Armour’s rating, pointing to opportunities outside North America
In May, Moody’s had upgraded its financial outlook for Under Armour from negative to positive and improved other metrics, considering that its turnaround had been successful. This time, it upgraded its debt ratings further following better-than-expected recent increases in sales and earnings. Moody’s again praised Under Armour for the significant ...
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News briefsMIPS moves up to Nasdaq Stockholm’s Large Cap segment
Following Nasdaq’s annual review of the market capitalization of listed companies, Mips AB, which is well known for its innovative helmet technology BPS (stands for “Brain Protection System”), is moving up from the Mid Cap to the Large Cap segment of Nasdaq Stockholm. The move will be effective on Jan ...
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News briefs
Aqua-Leisure buys Airhead to trigger synergies and to expand
The Airhead Sports Group, a company based in Denver, Colorado that has dealers in nearly 80 different countries, has become the property of Aqua-Leisure Recreation, another U.S. watersports equipment company based in Avon, Massachusetts. The goal is to implement synergies in R&D, sourcing and distribution. Airhead sells a variety of ...
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News briefs
Skechers extends and expands its credit facility
After booking record results for the third quarter, Skechers has expanded its senior unsecured credit facility from $500 million to $750 million, extending its maturity date from November 2024 to December 2025. It will retain a $250 million accordion feature that allows the company up to $1 billion worth of ...
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News briefs
KKR invests in PureGym to support its expansion
There is evidently a new sense of optimism in the gym business, in spite of recent lockdowns. KKR has agreed to become a minority investor in PureGym, a U.K.-based group that operates more than 500 gyms in the U.K. and other European countries, while providing it with an investment of ...
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News briefs
Adidas launches a new €4 billion share buyback program
Adidas has announced the launch of yet another share buyback program that will involve investments of €4 billion until 2025, starting in January 2022. It has already bought back €1 billion worth of shares this year. Adding annual dividend payouts in a range of 30 to 50 percent of net ...
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News briefs
Big variations in SSU’s market capitalization
Signa Sports United, the German-based parent of Tennis-Point and an array of online bicycle webstores, saw its share price close at €9.93 on Dec. 15, its first day of trading on the New York Stock Exchange. The stock price rose to €10.25 in after-hours trading. A total of 137,481 shares ...
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News briefsNew business plan for Polygiene
The board of directors and the management of Polygiene, the Swedish ingredient brand supplier, have set new financial targets for the 5-year period from 2022 to 2026. According to the new business plan, Polygiene should achieve net sales of more than SEK 1 billion (€98.6 million) and an Ebit ...
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Article
New Era Cap is refinancing itself
New Era Cap wants to refinance its existing debt, including the convertible bonds held by a minority shareholder, ACON Investments, after scoring major improvements in sales and profits in the last few months. The actual revenues of the U.S.-based headwear and apparel company, controlled by the Koch family since its ...
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ArticleSigna Sports United goes public with a valuation of $3.0 billion
Signa Sports United (SSU), which has become the largest dedicated sports e-tailer in the world, started trading on the New York Stock Exchange on Dec. 15 with an opening price of $9.07 per share, down from an issue price of $9.43, which gave the company a valuation of $3.13 billion. ...
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Article
YAC shareholders voting on combination with SSU
Signa Sports United (SSU) and Yucaipa Acquisition Corp. (YAC) said they expected to complete their planned business combination on Dec. 14, following approval by YAC shareholders at an extraordinary general meeting on Dec. 13. The transaction was expected to generate gross proceeds of at least $484 million, coming mainly from ...
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News briefs
More concentration in the German media market
Accelerated by the Covid pandemic, which has reduced the sports brands’ budget for national B2B advertising, the number of German retailer-oriented trade publications operating in the German sporting goods market has been cut from three to one over a span of just five years. The Ebner Media Group (EMG) has ...
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ArticleGood 11-month results allow Accell to repay government Covid credit facility
The company’s growth in sales and profits so far this year will allow the Accell Group to fully repay its “Go-C” credit facility, issued during the Covid-19 pandemic, before the end of 2021. In this context, the Dutch company has also converted its existing revolving credit facility (“RCF”) from seasonal ...
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Article
Spektrum gets new financing to diversify and internalize
Spektrum, the Swedish-based brand of ski goggles and sunglasses, has raised 18 million Swedish kronor (€1.7m-$2.0m) from new partners in order to finance its future international development and the diversification of its product portfolio in the safety equipment sector, including helmets. Spektrum was founded in 2012 by a group ...
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Article
Rallye sells Go Sport for one euro
Rallye is putting an end to its involvement in sporting goods retailing with the sale of Groupe Go Sport to Hermione People & Brands (HPB), which is now expected to be completed by Dec. 10. HPB has agreed to pay only one symbolic euro for the business, which is said ...
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ArticleZegna launches outdoor and ski capsule before its IPO
Source: Zegna New Zegna logo Zegna has unveiled The Outdoor Capsule, describing the line as “performance apparel and ski gear for big and small outings with elegant style.” The capsule’s exclusive pieces include ski helmets from Zegna and Kask, performance footwear from Zegna and La Sportiva, water ...
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News briefs
Puma boosts shoe production in Argentina
Puma added two more production lines to its footwear factory in Argentina last month, in addition to the three lines that it had incorporated there earlier this year, in order to raise its annual capacity from 1.4 to 2.4 million pairs. Located at La Rioja, the plant is run by ...
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ArticleS&P compares Reebok to Champion
Standard & Poor’s confirmed its B issuer credit rating for the Authentic Brands Group (ABG) after its decision to bring in two new investors, HPS Investment Partners and CVC Capital, instead of raising new capital by going public. As reported, they both purchased some of the existing shareholders’ shares. Instead, ...
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ArticleBogner teams up with Bosideng for China
Bogner has signed a joint venture agreement with a subsidiary of Bosideng International Holdings, a leading Chinese apparel group, to establish a strong presence for the Bogner and Fire+Ice brands in the Greater China area with the support of experienced managers. The business plan calls for strong social media activities ...
