More corporate news – Page 44
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Case StudySSU will take over Wiggle and go public as the world’s leading sports e-tailer
Signa Sports United (SSU), the big international sports e-tailer based in Berlin, has entered into a business combination agreement with Yucaipa Acquisition Corporation, a publicly-traded special purpose acquisition company (SPAC) based in Los Angeles, to finance the acquisition of Wiggle Chain Reaction Cycle, alias Wiggle CRC, a big U.K.-based bike ...
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News briefs
Adidas invests €3 million in Spinnova
Adidas has agreed to subscribe for €3 million worth of shares in Spinnova’s planned initial public offering (IPO). Spinnova, a Finnish manufacturer of textile fibers derived from wood or agricultural waste, is planning to list on the Nasdaq Helsinki First North Growth Market. The company is building its first factory ...
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News briefs
Prevayl secures £7.5 million investment
Prevayl, a start-up specializing in “intelligent” and connected sportswear based in Manchester, has secured a £7.5 million (€8.7m-$10.6m) pre-revenue investment that is supposed to help the company “take wearable health technology to new heights.” The investment has been made by Stonebridge, the private equity fund headed by James Cox. Prevayl ...
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Article
Nice Footwear considers reshoring and acquisitions
Nice Footwear, an Italian footwear licensing company that also owns the Kronos brand of sports shoes, is considering a reshoring of its production from the Far East to Italy and the launch of e-commerce. Specializing in the design and sourcing of sneakers, the company has a team of 21 designers ...
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News briefs
Peloton plans to enter one or two markets each year
While confirming its entry into the Australian market, which is expected to coincide with the start of its 2021/22 financial year on July 1, Peloton Interactive said it plans to move into one or two additional foreign markets each year. Addressing financial analysts at the Bank of America’s Securities Global ...
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Case StudyNew boss and new structures for the Luhta group
Juha Luhtanen, 51, became the new managing director of the Luhta Sportswear Company on May 4, taking the place of his older brother, Vesa Luhtanen, who has retired after many years at the helm of the Finnish-based family-owned company, previously known as the L-Fashion Group. The change of management has ...
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News briefs
Growing Eleiko makes new investments
Eleiko, the leading Swedish-based producer of weightlifting equipment, has started construction of a new logistics center in Halmstad, close to its head office in Kistinge, to help cope with its continued growth, which reportedly led it to book sales of about 500 million Swedish kronor (€45m-$60m) last year, up from ...
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ArticleBike and sports e-tailer Bike24 plans to go public in 2021
In September 2019, The Riverside Company bought back German e-commerce retailer for cycling, outdoor, fitness and swimming products, Bike24 GmbH, from a big British cycling e-commerce operator, Wiggle CRC. The private equity company had sold the continental European cycling online platform to the British industry giant in 2017, but that ...
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News briefs
Stone Island’s president has bought a football club
Carlo Rivetti, president of the Italian sportswear brand Stone Island recently acquired by Moncler, has taken complete ownership of Modena FC 2018, a football club based less than 20 kilometers from the brand’s headquarters in Ravarino. The club has been acquired from Kerakoll, its previous owners, via Rivetex, the financial ...
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News briefs
Livall’s high-tech bike helmet raises over $300,000 on Indiegogo
Livall has announced that the campaign for the official launch of its EVO21 smart bike helmet on Indiegogo has now raised over $300,000 from more than 2,100 backers. The campaign debuted on Indiegogo on May 13, and Livall plans to start shipping the new helmet globally this month. The EVO21, ...
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ArticleIntersport lays out a three-part strategy for Spain
Intersport Spain has set forth a strategic plan for the next three years, 2021-23, to bolster its brand and rejigger its inner workings.
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News briefs
Kathmandu signs new green credit facilities
Kathmandu Holdings, which owns the Kathmandu, Rip Curl and Oboz brands, has already been recognized as a certified B Corp. The company has now refinanced its credit facilities with two others where the borrowing costs are linked to the achievement of certain targets for reduced carbon emissions, transparency and labor ...
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News briefs
361° retires the rest of its debt
361 Degrees has fully redeemed the remaining principal of around $130 million still outstanding from the the Chinese sports brand’s senior noted due on June 3, which were yielding an annual interest of 7.25 percent. The company had repurchased other tranches in the past two years. After this move, Standard ...
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Article
Primosole takes control of Samurai Sportswear
A British investment company, Primosole Holdings, has acquired a majority stake in Samurai Sportswear, a 25-year-old sports apparel producer based in Norfolk that is relatively well-known in the rugby sector. Its founder, Terry Sands, was a former team manager of England Rugby. Besides five rugby clubs in England and Hong ...
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News briefs
Deporvillage to get a new HQ
Deporvillage plans to move its headquarters to new buildings in the Catalonian municipality of Sant Fruitós de Bages sometime late this year. There the staff, which recently came to exceed 100, will occupy 2,500 square meters of space. The Spanish e-tailer last expanded its office space in 2017, and has ...
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ArticleJD transfers Dutch chains to ISRG
JD Sports Fashion says it has agreed to sell two Dutch chains of sporting goods stores, Aktiesport and Perry Sport, to the Iberian Sports Retail Group (ISRG), in which it holds a controlling interest off 50.02 percent, for £16.5 million (€19.2m-$23.3m). The rationale behind the transaction, which is expected to ...
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News briefsClarus to acquire Australian roof rack manufacturer Rhino-Rack
Clarus Corp., the Utah-based parent of Black Diamond, Sierra Bullets and Pieps, among others, has reported a definitive agreement to acquire Rhino-Rack Pty, an Australian-based manufacturer and distributor of roof racks, mounting systems, luggage boxes, carriers and other automotive accessories, for a total purchase price of around 255 million Australian ...
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News briefs
Snipes buys a Polish chain
Snipes, the German-based sneaker and streetwear retail chain owned by Deichmann, is expanding to Poland with the acquisition of Distance, a retail chain founded in 2003 that sells soùoamr products through 31 physical stores in the country and an online shop that can be accessed from 20 European countries. No ...
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News briefs
Under Armour will redeem $250m worth of notes
To further boost its liquidity, while reducing its annual interest payments by about $3.75 million, Under Armour is exchanging half of the $500 million in convertible senior notes that it issued last spring with cash and Class C common shares. The bonds being redeemed currently yield an annual interest of ...
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News briefs
Maxpro announces Shaquille O’Neal as a new investor
Maxpro, a Detroit-based start-up specializing in connected fitness equipment, has announced a strategic partnership with the American basketball legend Shaquille O’Neal, who has invested in the company. Maxpro was founded in 2019 by a former athlete, Nezar Akeel. Since then, the company has grown from a pre-revenue Kickstarter campaign to ...
