More corporate news – Page 46
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News briefs
Rapala VMC completes a share buy-back
Rapala VMC Corp. communicated on March 25 that its board had decided to start buying back a maximum of 100,000 of Rapala VMC’s own shares, for a maximum outlay of €700,000. The buy-back of its own shares started on April 1st and ended on May 10. During this period, the ...
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S&P upgrades Under Armour’s outlook
The outlook for Under Armour has been changed by Standard & Poor’s from negative to stable based on the company’s improved financial metrics, while its issuer credit rating has been kept at BB. S&P expects UA’s debt/Ebitda ratio to decline from 2.7 times in 2020 to below 2.0 times by ...
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Amazon issues a maiden $1bn green bond
Amazon raised $1 billion with the issuance of its first sustainability bond on May 10. The company says the proceeds will be used to invest in renewable energy, clean transport, sustainable buildings, affordable housing, and socioeconomic advancement and empowerment. The U.S.-based e-commerce giant has pledged to be carbon-free, on a ...
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JD buys a small meanswear retailer
JD Sports Fashion has acquired Oi Polloi, an upscale casual menswear store in Manchester, and its online shop. Founded in 2002, the retailer offers clothing under its own label as well as brands such as Adidas, Reebok, Converse, Keen, Patagonia, Barbour, Ralph Lauren, Superga, Levi’s, Stone Island and Armor Lux. ...
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VF is splitting up Icebreaker
Four years after acquiring the brand of merino-wool apparel based in New Zealand, VF Corp. has decided that it will be splitting Icebreaker into three entities, according to reports in the NZ Herald. Two of these entities will be operating out of the present headquarters, in the city of Ponsonby, ...
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Salomon unveils details of its restructuring plan
Salomon’s management presented details of its restructuring plan to the company’s Social and Economic Committee (CSE) on May 3. The plan envisages cutting 82 jobs out of 738 at the company’s head office in Annecy, in France’s southeast. The cuts are mostly due to the closing of ski resorts in ...
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SRAM rewards shareholders after a strong year
SRAM, the private maker of bicycle components, plans to issue a $1.1 billion term loan to finance a special distribution of $750 million to its shareholders, after a banner year in which its sales jumped to $974 million, thanks to the recent bike boom. The rest of the proceeds will ...
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Irish singer invests in Gym+Coffee
A young Irish singer, Niall Horan, has joined Gym+Coffee, an Irish brand of athleisure clothing and accessories for women and men, as an investor, ambassador and adviser. Gym+Coffee was founded by three friends in 2017. The company has six “Clubhouse” stores in the Republic of Ireland and two in the ...
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Hyperice gains a 20-year-old athlete investor
More and more sports professionals are investing in sports brands while becoming their ambassadors. Their age is not a factor, apparently. Erling Haaland, the 20-year-old Norwegian footballer born in England who plays for Borussia Dortmund and the Norwegian football team, has joined Hyperice as an athlete ambassador and investor. Haaland ...
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Article
Reebok is seen reaching Ebitda of €200m by 2025
The Adidas Group has asked prospective buyers for the Reebok business to submit a first round of bids next week, according to Reuters, based on a projection that its sales will grow at an annual average rate of 10 percent in the next years, generating Ebitda of at least €200 ...
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Rose Bikes expands production in Germany
Rose Bikes, the German DTC brand of bicycles assembled in Germany, is opening a new production hall in its hometown of Bocholt to help meet a goal of expanding its output by 60 percent over the next three years, starting with a 30 percent increase by this summer. It is ...
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Frasers starts a share buyback program
Frasers Group, which owns Sports Direct International and many other assets, has launched a new share buyback program, limiting the maximum aggregate purchase price at £60 million (€69m-$83m) for a total of up to ten million shares. It started on May 4 with the acquisition of 3,189 shares at an ...
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ArticleA second leg for Tennis-Point in the U.S.
Building up on its recent acquisition of Midwest Sports, which was completed last month, Signa Sports United (SSU) is consolidating its penetration of the U.S. market with a binding agreement to acquire Tennis Express, one of the country’s leading online tennis retailers. The two operations will be folded by SSU ...
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Decathlon signs a leaseback deal for 27 French properties
IREIT Global has entered into a conditional sale agreement for the acquisition, via its wholly-owned subsidiary FIT2, of 27 retail properties in France from Decathlon with a gross lettable area (GLA) of 95,477 square meters. They are mostly located around smaller cities. The total agreed price is of around €110.5 ...
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Jay-Z invests in at-home fitness company
Shawn Carter, the 51-year-old American rapper and business mogul globally known as Jay-Z, has invested in LIT Method, a fitness company specializing in at-home fitness training, through his venture capital firm Marcy Venture Partners. The financial details of the investment have not been disclosed. LIT Method is a Los Angeles-based ...
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Article
On Running is again reported to be eyeing an IPO
On, the Zurich-based sports brand backed by Roger Federer, publicly denied a report in a Swiss newspaper last July that it was planning to go public in 2021. Citing a source close to the matter, Reuters reported again on April 30 that On was making preparations for an initial public ...
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Castore will move its HQ from Liverpool to Manchester
Castore will relocate its headquarters from Liverpool to 1 Central Street, part of The Albert Estate, in Manchester ’s city center, later this year. The growing British sportswear brand has signed a lease to occupy a 22,100-square-foot space within the building, spanning across five floors. OBI advised on the ...
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A $200m valuation for Ergatta, a gamified connected rower start-up
Ergatta, a Brooklyn-based start-up that has developed a good-looking, connected home rowing machine, is the latest target of private equity in the growing home fitness market. The company, which was founded in 2019, has raised $30 million in a new funding round that gives it a $200 million valuation. Ergatta ...
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Adidas’ basketball hub may move to Los Angeles
Adidas has decided to move its basketball operations in the U.S. from its North American campus in Portland, Oregon, to Los Angeles, according to Business Insider. The move would follow the brand’s appointment in December of Jerry Lorenzo, founder of the Fear of God brand of streetwear, as the person ...
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Kinetyx gets funding for its “kinesomic sensory insole”
Kinetyx’ director, Robin Thurston, believes that every shoe in the world will be fitted with sensors twenty years from now. The Canadian high-tech company, which was spun off by its parent, Orpyx Medical Technologies, nearly one year ago, has secured new funding for its continued R&D on a “kinesomic sensory ...
