More corporate news – Page 38
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ArticleStrong start for On Running on the NYSE
Source: On Running On runs to NYSE. Investors apparently rushed to buy the new Class A shares offered by On Holding and some of its shareholders as they reportedly started trading on the New York Stock Exchange today at around $35 per share, well above a price ...
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Xtep sells bonds to Hillhouse to help internationalize K-Swiss and Palladium
Xtep International has completed a $129.4 million convertible bond offering intended to expand the presence of its K-Swiss and Palladium brands internationally. The debt offering consisted of two tranches, a U.S.-dollar-denominated tranche of $65 million with a zero coupon and a tranche worth 500 millionn Hong Kong dollars ($65.4 million) ...
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On Holding raises IPO price to $20-22
The parent company of On Running has informed the U.S. Securities & Exchange Commission that it has decided to raise the price of its initial public offering from a range of $18 to $20 to a range of $20 to $22. The company has also indicated that the full overallotment ...
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Castore moves into cricket, eyes a possible IPO
Castore, which is said to be planning to go public in 2022, has replaced New Balance as sponsor of the England & Wales Cricket Board (ECB). By the terms of the deal, worth some £25 million (€29m-$35m), the British sportswear producer will be supplying all ECB teams – men’s, women’s, ...
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Vista Outdoor buys a producer of golf simulators
Trying to capitalize on the recent boom in the golf market, Vista Outdoor has agreed to buy Foresight Sports, a producer of high-enhd golf simulators based in San Diego, California, for $475 million plus up to $25 million in contingent incentives. The amount is equal to about ten times the ...
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VF executive takes over Eagle Creek
Travis Campbell, a former consultant with Andersen and a former Deloitte consultant who had been in charge of emerging brands at VF Corp. until a few weeks ago, has acquired all the assets of Eagle Creek, a daypack and travel luggage brand founded in Colorado in 1975 that VF took ...
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Dassler family behind new fund for sports technology startups
A new $30 million equity investment fund, the Lake Nona Sports & Health Tech Fund, has been set up to help about 20 early-stage startups in the areas of fan engagement, connected athletes, health and well-being to bridge the gap between seed investment and pre-Series A funding. Its portfolio already ...
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Asics invests in the training of fitness coaches
Asics Ventures has made an investment in Deportare Technologies, a Japanese firm that operates an online fitness academy that is supposed to train fitness coaches, certifying them as “healthcare catalysts.” The company was set up in July 2020 by Yuma Takashita, the founder of the exclusive Deportare Club in Tokyo, ...
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ArticleExpanded: First financing for a new, sustainable online marketplace for sports goods, Planetics
A Munich-based startup, Planetics, has successfully closed its first financing round for its online marketplace for sustainable and fairly produced sporting goods. The exact investment sum was not disclosed, but the founders indicated a “six-figure” range of between €100,000 and €999,000. The capital raised will primarily be used to further ...
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ArticleExpanded: On Running to be valued at over $5 bn
Providing further details about its planned public offering, On Holding said it plans to raise net proceeds of around $448.6 million by offering a total of 31.1 million shares on the New York Stock Exchange at a unit price of between $18.00 and $20.00. Out of the total package being ...
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Article
Big Chinese sports apparel manufacturer vaccinates its workers
While reporting lower profit margins, Shenzhou International warned that its overall annual production capacity will be reduced by one to two percentage points for every 14 days of anti-pandemic measures being taken. The leading Chinese sportswear manufacturer arranged vaccinations for its workers in Cambodia, allowing them to return to work ...
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Spain’s Zcebra is the first European pickleball supplier
According to Palco23, Xiana López has invested €52,000 into Zcebra, the company she founded at the start of this year. Headquartered in Guadarrama, near Madrid, the Spanish company is Europe’s only producer of pickleball paddles, balls, nets and apparel, serving 22 of the continent’s countries. López and a graphic designer ...
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Whoop acquires a weightlifting technology start-up, Push
Fresh off from a $200 million equity increase, Whoop has acquired Push, a start-up whose technology uses multiple sensors worn by athletes to measure weightlifting power, speed, force and acceleration. Whoop is taking over the Toronto-based company at an undisclosed price in exchange for cash and shares. Its equipment, software ...
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Hummel is buying a Danish childrenswear brand
Intensifying its focus on the kids market, Hummel has agreed to take over Sometime Soon, a Danish brand of streetwear-inspired children’s clothing for boys aged 0 to 14. Cathrine Høilund, who co-founded the firm in 2015, will continue as its creative director. The takeover will only be effective in January ...
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ArticleWeSports makes many purchases and adds e-com pioneer Johan Ryding to its board
The young Swedish WeSports group has engaged in a big shopping spree, taking over many companies in the last few months. It has also announced that Johan Ryding has joined the company’s board of directors. Ryding is one of the founders of Sportamore, the first Nordic online sports store, and ...
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Former European executive of Burton joins Myutility Bag
Myutility Bag (MUB), the French start-up acquired by Frank Heissat five months ago, has completed a new round of financing and added an experienced partner to help boost its international development. Franck Waterlot, who served as joint European managing director and vice president of commercial and marketing operations a tBurton ...
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Nautilus is acquiring a motion tracking start-up
Nautilus has announced a definitive agreement to acquire VAY (pronounced “way,”), a company whose proprietary computer vision software enables computers to understand human motion through cameras. The price of the transaction has not been disclosed. Nautilus says the acquisition will allow it to scale its own JRNY digital platform by ...
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Article
Sequential Brands Group files for bankruptcy protection
After many loss-making quarters and the sale of four brands - Heelys, DVS Footwear, Caribbean Joe and Ellen Tracy - earlier this year, the heavily indebted Sequential Brands Group has commenced voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of Delaware to protect it from its ...
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ArticleiFIT reports strong growth and losses ahead of its IPO
Confirming its plans to go public, iFIT Health & Fitness reported a 104.9 percent increase in revenues to $1,745.1 million for the 12 months ended last May 31, compared with $700.0 million in 2018/19 and $851.7 million in 2019/20. It got orders worth $382.3 million last year, representing an increase ...
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ArticleLoss-making Allbirds eyes the sports market as it files for a “sustainable” IPO
Allbirds, the B Corporation certified brand of sneakers and apparel based in San Francisco, has filed an application with the U.S. Securities and Exchange Commission for a so-called “sustainable” initial public offering on Nasdaq. The document indicates the size of the transaction at $100 million, which is an estimation solely ...
