More corporate news – Page 54
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News briefs
JD’s executive chairman sells shares
Peter Cowgill, executive chairman of JD Sports Fashion, has sold 2,587,326 shares in the British company at a price of 745.61 pence per share, leading to total proceeds of £19,291,102 (€21,406,962-$24,889,334). The retailer’s share price has been sliding in the last five days from around 800 pence to less than ...
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News briefs
Melchers Group combines Venice Beach and Joy Sportswear
The German Melchers Group, which has more than 50 brands from various industries under its umbrella, has reorganized its apparel segment. Its Scoretex subsidiary will serve as the “Home of Brands” for all four of the group’s sports brands. In addition to the labels Venice Beach and Curvy Fit by ...
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News briefs
Whoop is valued at $1.2 million in financing round
Here is another young connected fitness company that is commanding a high valuation. Whoop, an “athletic performance maintenance company” headquartered in Boston that provides memberships for 24/7 coaching to improve health and the free Whoop hardware that goes with it, has closed a $100 million Series E Financing round at ...
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News briefs
Under Armour divests MyFitnessPal, will discontinue Endomondo
Under Armour (UA) has entered into a definitive agreement to sell the MyFitnessPal platform to Francisco Partners, a global investment firm specializing in technology businesses, headquartered in San Francisco. MyFitnessPal, an activity tracker that helps around 200 million users in their health and fitness activities, will become a stand-alone company. ...
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ArticleTechnogym wants home fitness to generate half of €1 bn in sales
In reporting a 53 percent increase to €98 million in its home fitness segment for the first nine months of this year, Technogym said that its board of directors has approved a new three-year business plan, called Technogym At-Home, that calls for a doubling in the segment’s revenues from a ...
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News briefs
Decathlon invests €4 million in Cyclofix
Cyclofix, a French on-site bike repair service, has raised €5 million in an investment round including €4 million coming from Decathlon and €1 million from Via ID, a business accelerator that supports innovative start-ups in the field of new and sustainable mobility. Cyclofix, created by Alexis Zerbib in 2016, is ...
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News briefs
Rawlings acquires Easton Diamond Sports
Rawlings Sporting Goods and Easton Diamond Sports have entered into a definitive agreement for Rawlings to acquire Easton, the American baseball and softball brand. The financial terms of the deal have not been disclosed. The existing shareholders of Peak Achievement Athletics, Easton’s parent company, will continue to participate as minority ...
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News briefs
Huub launches a crowdfunding campaign
Huub, a British producer of apparel and accessories for endurance sports, has launched a crowdfunding campaign on Crowdcube. It hopes to raise at least £250,000 (€277,000-$327,000) so as to “continue to scale its direct-to-consumer offering, expand the product range in its fast-growing cycling category, cater for the increasing number of ...
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ArticleAdidas may offload Reebok by March
Naming Anta Sports Products and VF Corp. as potential buyers for the brand, Germany’s usually well-informed Manager Magazin reports that the Adidas Group is planning to sell its Reebok division by next March. A spokesperson for the group said the company has a policy of not commenting on press rumors, ...
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Article
Little harm for Fischer from Ukrainian plant fire
In its first statement since a fire broke out at its Ukrainian joint venture factory in Mukachevo during the night of Oct. 11 to 12, Fischer Sports said it is immediately relocating some of its ski production to its own Austrian plant in Ried. By adding labor shifts at both ...
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ArticleUnder Armour is centralizing and digitalizing its European operations
Under Armour has decided against reopening its physical sales offices in Paris, Munich, Manchester and Barcelona, preferring instead to coordinate in-person and remote selling functions in the respective markets from a new, “futuristic” Digital Hub at its European headquarters in Amsterdam. The regional offices had been temporarily closed in the ...
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News briefs
Google could make new concessions to get Fitbit's takeover approved
According to Reuters, the deadline for the approval by European anti-trust authorities of Google’s $2.1 billion acquisition of Fitbit has been extended from Dec. 23 to Jan. 8 after Google expressed some readiness to change the concessions it would be willing to make. This came after receiving feedback from a ...
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News briefs
The Bic Sport brand will disappear by year-end
Bic Sport, the leading French surf hardware brand, will soon disappear after more than 40 years. The brand will be renamed Tahe, following its acquisition two years ago by Tahe Outdoors. Bic Sport branded products will not be available after the end of 2020, or earlier if stocks are exhausted ...
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News briefsNew owners and new e-commerce focus for 4FRNT
An American freeride and backcountry ski company, 4FRNT, has been taken over by a group of private entrepreneurs and long-time friends who are said to be bringing a combination of financial resources and experience in the ski industry and digital operations to develop the brand into a more modern e-commerce ...
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News briefs
Major fire in Fischer’s Ukrainian ski factory
We have not yet received Fischer Sports’ comments on various press reports regarding a night-time fire that destroyed a large part of its joint venture factry in Ukraine on Oct; 12. According to the State Emergency Service of Ukraine (SES), the roof of a large one-storey building at the plant ...
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News briefs
Frasers’ shareholders approve a special bonus scheme
Asked to comment on British press reports on the subject, Frasers Group, the owner of the Sports Direct chain of sports shops and other assets, says that its annual general meeting last week approved a special new £100 million (€110m-$129m) bonus program that would be open to the majority of ...
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Article
Boardriders’ recapitalization runs into rough waters
A recent new debt offering of $155 million issued by Boardriders to Oaktree Capital Management and other lenders is being challenged by a group of previous lenders who see their rights subordinated in the new deal, which establishes collateral rights for them with regard to their previous debt of around ...
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Article
Facebook helps in Elho’s rebirth
After an absence of two decades, the Elho brand of skiwear is marking a much remarked upon comeback with a 1989 Heritage Collection, in time for sale through its own website for the imminent autumn/winter season, although its delivery to customers has yet to start. The limited edition ...
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Article
Hyperice is valued at $700m in new funding round
Here is another fitness-related company, operating in a special niche of a growing market, that has obtained a high valuation in its latest round of financing. Hyperice, a U.S.-based specialist in muscle recovery systems, has been valued at around $700 million in a new Series A $48 million investment round ...
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News briefsMoody’s switches Vista Outdoor’s outlook from negative to positive
Favorable trends in U.S. outdoor activity and Vista Outdoor’s good competitive position with leading brands in various niches of the market have led Moody’s to change the group’s debt rating from negative to positive, following an improvement in its Ebitda margin. Vista’s brand portfolio includes Camelbak, Bushnell, Camp Chef, Primos, ...
