More corporate news – Page 49
-
ArticleNautilus will push subscriptions, focusing on two brands
Recent consumer research has convinced Nautilus’ management that the traditional home fitness-oriented customers addressed by the company have become “enthusiastic cross-trainers” who are looking for home gear to supplement their gym or outdoor exercise routines, building up to a larger addressable market. In fact, the retail channel has grown to ...
-
News briefs
LeBron James becomes partner at FSG, the owner of Boston Red Sox and Liverpool
LeBron James has bought an undisclosed number of shares in Fenway Sports Group (FSG). The transaction, which was first reported by the Boston Globe, makes him a part-owner of the Boston Red Sox, Roush Fenway Racing, and New England Sports Network (NESN), all parts of John Henry’s holding company. James ...
-
News briefs
Nike plans to cut by half its office staff in Spain
Nike is planning to reduce its office workforce in Spain by half, after streamlining its operations in Germany and the Nordic countries. According to reports in Palco23, a Barcelona-based sport business periodical, Nike is about to file a restructuring plan (ERE = “expediente de regulación de empleo”) that would involve ...
-
News briefs
Lululemon’s chairman wants to invest with KKR
Working together with KKR, the big American investment group, Glenn Murphy, chairman of Lululemon, has created a special-purpose acquisition company (SPAC) that has started trading on the New York Stock Exchange under the symbol KAHC, following an oversubscribed public offering worth $1.2 billion. The purpose of the new SPAC, whose ...
-
News briefs
Rocky Brands closes Honeywell footwear's takeover
Rocky Brands has completed its $230 million acquisition of the performance and lifestyle footwear operations of Honeywell International, noting that it will be immediately accretive to its own results. The business, which includes The Original Muck Boot Company and the Xtratuf, Servus, NEOS and Ranger brands, generated Ebitda of about ...
-
News briefs
Moody's upgrades Topgolf's rating
Moody’s has upgraded the corporate family rating of the Topgolf Entertainment Group in view of the international venue operator’s support following its merger with Callaway Golf Co. The rating agency has also changed its outlook to stable. Moody’s expects that Topgolf will be in a position to start generating positive ...
-
News briefsPure Fishing acquires Plano Synergy
Pure Fishing, the expanding U.S. fishing tackle conglomerate, has entered into a definitive agreement to acquire Plano Synergy Holdings, a Texas-based company founded in 1938 that owns several outdoor brands, including Ameristep, Avian-X, Barnett, Bloodsport, Evolved, Frabill, Flextone, Halo, No Limit, Plano Molding, Tenzing, Wildgame Innovations and Zink. The purchase ...
-
Article
Li Ning’s SPAC files for a $250 million IPO
Trinity Acquisition has filed with the U.S. Securities and Exchange Commission (SEC) to raise up to $250 million in an initial public offering (IPO) of 25 million units at $10. The special purpose acquisition company (SPAC), based in Hong Kong, is led by Li Ning, the former Olympic champion turned ...
-
Article
Garmont eyes acquisitions after change of control
Garmont International, the Italian brand of outdoor and technical footwear, is open for acquisitions in the apparel sector and other opportunities following the entry of a new majority shareholder. Italian Strategy Private Equity (ISPE), managed by Riello lnvestimenti Partners, has acquired a 65 percent stake in the company’s share capital. ...
-
ArticleJD expands in Central and Eastern Europe
Pursuing its international expansion, JD Sports Fashion has signed an agreement to acquire a 60 percent majority interest in the Marketing Investment Group (MIG), a wholesaler and multi-channel retailer specializing in the sporting goods sector with a network of 410 retail stores in Poland and eight other neighboring countries. The ...
-
News briefs
Updated: Rating agencies back Crocs’ new debt offering
Crocs has increased the size of a planned private placement from $300 million to $350 million, giving an indicative March 12 date for its closing. The placement consists of senior notes with a coupon rate of 4.250 percent due in 2029. Crocs said that it would set aside $180 million ...
-
News briefs
Hobie Cat has been sold to executives from Maynards Industries
Hobie Cat Co., the U.S. company operating in the surf, paddlesports and stand-up paddle markets, has reportedly been sold to a private equity group consisting of executives from Maynards Industries, an industrial auction house. According to a report in SGB Executive, Hobie Cat “was discretely sold” to a team of ...
-
News briefs
Ruffini sells 3.2% stake in Moncler
Ruffini Partecipazioni, the investment holding company of Moncler’s CEO, Remo Ruffini, has placed shares equal to a stake of around 3.2 percent in Moncler at a price of €48.80 per share via an accelerated bookbuilding process. Bank of America and Morgan Stanley have acted as joint bookrunners for the placement. ...
-
ArticleAdidas unveils its business plan through 2025, expanding DTC
After releasing its results for 2020, Adidas introduced a new strategy at a virtual Investor & Media Day, dubbed ”Own the Game,” which it says aims to raise sales, market shares and profits by strengthening the “credibility” of the Adidas brand, by boosting the direct-to-consumer channel and creating a unique ...
-
News briefs
Callaway closes Topgolf’s acquisition
The merger of Callaway Golf Co. and Topgolf International has been completed, following approval of the deal by a majority of the shareholders of both companies. Topgolf’s assets include a number of golf driving ranges, a ball tracing system and other golf-related entertainment tools and media. As originally agreed last ...
-
Article
GoPro sees major upsides with subscriptions
GoPro told a conference organized by JMP Securities that it expects its revenues to improve by 20 to 25 percent this year, even if there is no broad economic recovery and no increase in travel, thanks in part to the development of its direct-to-consumer operations. As previously reported, GoPro suffered ...
-
News briefs
El Corte Inglés discusses layoffs
El Corte Inglés has told the unions that it is considering between 3,000 and 3,500 voluntary layoffs as part of a reorganization of the company, which run Spain’s largest chain of department stores and multiple other operations, including shopping centers. Its department stores sell a lot of sporting goods, among ...
-
News briefs
JD Sports in talks to acquire warehouse from Arcadia Group
According to Sky News, JD Sports Fashion is the front-runner in negotiations to acquire Arcadia Group’s warehouse in the English town of Daventry for around £60 to £90 million (€69m-$83m to €104m-$125m). Boohoo Group, Amazon and eBay have reportedly also expressed interest. A casualty of the pandemic lockdowns, Arcadia Group ...
-
Article
Birkenstock is reportedly valued at €4 billion
We find it interesting that Birkenstock, an authentic and iconic brand of casual shoes made in Germany, with a 247-year heritage, has been taken over by two equity funds, L Catterton and Financière Agache, that are related to Bernard Arnault, the controlling shareholder of LVMH. We are wondering about the ...
-
News briefs
Wolverine gets S&P upgrade
Standard & Poor’s has upgraded its outlook for Wolverine Worldwide to stable and confirmed its BB issuer credit, while raising the rating on its senior secured credit facility to BB+. This came after Wolverine repayed a $171 million, 364-day loan contracted because of the coronavirus pandemic and reported better-than-expected results ...
