More corporate news – Page 50
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Moncler acquires full control of Stone Island
Moncler has purchased the remaining 30 percent stake of Stone Island, an Italian brand of casualwear, from Temasek for around €345 million. The transaction is expected to close by the end of March, following approval by the regulatory authorities and Moncler’s shareholders. The deal was first announced in December of ...
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Inov-8’s founder takes the business back
Wayne Edy, who founded Inov-8 in 2003, is preparing to launch a new graphene-based shoe after buying back the 80 percent stake in the British company that he had sold to Descente in 2015, with the exception of the rights to the brand for Northern Asia, including Japan, South Korea ...
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Wintersteiger signs deal with Head USA
Already working with Head Europe, Wintersteiger has become a supplier to Head USA, opening a showroom at the latter’s headquarters in Boulder, Colorado. According to its president, Jon Ruker, Head was seeking to “replicate” in Boulder the performance of Wintersteiger’s Scout machine at its Austrian race department, which “consistently produces ...
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Adidas plans to resume dividends
Adidas’ executive board has decided a resumption of the company’s dividend payments, subject to approval by the supervisory board and at the annual general meeting of May 12. The says its decision reflects a positive outlook for the current financial year and follows a series of financing measures: it recently ...
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Courir to open new warehouse in 2022
Courir, the international chain of sneaker shops previously owned by Groupe Go Sport, is planning to open a new 18,000-square-meter warehouse in Montierchaume, near Châteauroux in central France. According to a report in sport-guide.com, the facility will be ready in March 2022, and will be operated by ID Logistics. In ...
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Rather Outdoors buys Zebco Brands
Rather Outdoors has announced that it has taken over Zebco Brands, a manufacturer of fishing rods, reels and accessories based in Tulsa, Oklahoma. Through this acquisition, Rather expects to take full advantage of the growing interest in fishing, particularly among young and new anglers, where Zebco is particularly strong. Another ...
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News briefsKuehne+Nagel buys a Chinese freight company
Kuehne+Nagel, the European logistics group registered in Luxembourg, has entered into a binding agreement to acquire a Chinese freight forwarder, Apex International Corporation. No financial details were released. Apex was founded in 2001 and has about 1,600 employees. It generates yearly revenues in excess of €1.9 billion. In 2020, the ...
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Foot Locker’s capital spending will grow to $275m in 2021
Foot Locker’s board of directors has authorized capital investments of $275 million for this year, a big jump from the $155 million spent in 2020, when they were reduced to maintain liquidities in spite of the coronavirus pandemic. Foot Locker’ board has also decided to raise its quarterly dividend by ...
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Therabody raises capital from celebrities
Therabody, the U.S.-based maker of the Theragun massage therapy gun and other therapeutic training aids, said it has drawn more financing after its revenues tripled in 2020 to an unspecified level, thanks in part to its expansion into more than 60 countries, with offices recently opened in London, Dublin and ...
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Kinnevik’s Zalando shares go to its own shareholders
Kinnevik, the Swedish investment fund that has been supporting Zalando since 2010, helping it to go public in 2014, has decided to transfer its 21 percent interest in the big German-based e-tailer to its own shareholders, provided they approve the move at Kinnevik’s annual meeting on April 29. The Swedish ...
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Asics invests in soccer scouting platform
Asics Ventures Corp., the investment subsidiary of Asics Corp., has invested in Dreamstock, the operator of a soccer scouting platform that matches football players with clubs. Dreamstock, based in Tokyo, was founded in July 2017. The digital company supports the youth generation (ages 14-18) by providing matching services with professional ...
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ArticleHi-Tec’s parent will change hands, if the price is right
Apex Global Brands, the American brand management and licensing organization previously called Cherokee Global Brands, which owns the Hi-Tec, Magnum and Tony Hawk brands, among others, confirmed that it has entered into a merger agreement with Galaxy Universal, a Colorado-based project management and investment firm.Galaxy is described as a sourcing ...
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Decathlon will source bikes from a big new plant in Romania
The cycling boom has led Decathlon, which is a major player in the sector with its private-label lines, to boost its manufacturing capacity in Europe. While expanding the production in France and Portugal, it is working with a partner in Romania, the Sport Mechanical Workshop, on the establishment of a ...
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Article
Dorel will remain on the stock exchange
Dorel Industries and Cerberus Capital Management have terminated an agreement in principle that would have allowed the Canadian company to go private. As a result, a meeting of shareholders that was planned for Feb. 16 to endorse the deal has been cancelled. First reached last November, when the purchase price ...
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Beachbody will go public after a merger
Beachbody, the big California-based digital fitness streaming and nutrition company, will go public on the New York Stock Exchange following an agreement to merge with Myx Fitness Holdings, which sells connected fitness bikes, and SPAC Forest Road Acquisition Corp., which is already on the stock exchange. Beachbody’s current management and ...
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Moody’s downgrades VF
Completing its review of VF Corp.’s credit rating following its December acquisition of Supreme, Moody’s kept the company’s rating stable but lowered its senior unsecured debt and shelf ratings slightly. It confirmed its P-2 short-term commercial paper rating. Moody’s noted that VF’s financial leverage will remain high, predicting that its ...
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Peloton has quickly completed a $1.0 billion bond issue
Peloton Interactive has obtained all the extra funds it wanted. The fast-growing connected fitness company has announced the completion of a convertible bond offer that is generating gross proceeds of $1.0 billion, including an over-allotment option for $125.0 million, which has been exercised faster than planned. The net proceeds of ...
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Patrick Lepeudry, co-founder of Skiset, injured in a helicopter crash
Patrick Lepeudry, co-founder of Skiset, the French-based ski rental company, sustained severe injuries in a helicopter crash in Courchevel, a ski resort town in the French Alps, in the afternoon of Feb. 9. The accident occurred between the Rosière lake and the Dent du Villard mountain at an altitude of ...
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Xtep to open operation center in Shanghai
Xtep International has plans to establish a new operation center in Shanghai. According to a report in Sportstextiles.com, the Chinese sportswear group has entered into an agreement with a property company to acquire a site covering around 11,000 sqm close to Hongqiao Airport. Xtep will use the new site for ...
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Frasers cashes out of French Connection
Frasers Group, the parent company of Sports Direct, has sold its entire 24.93 percent interest in French Connection, a British fashion company in which it started to invest in 2017, when the share price was higher than it is now. The shares were probably worth less than £4 million (€4.5m-$5.5m) ...
