More corporate news – Page 70
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News briefs
Nike has announced that it is going ahead with the...
Nike has announced that it is going ahead with the construction of a new Nike Air Manufacturing Innovation (Air MI) facility in Goodyear, Arizona, generating more than 500 full-time jobs in a state that has shown hostility toward the company's commitment to diversity. The state's governor, Doug Ducey, withdrew a ...
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News briefs
Nike is reportedly contemplating strategic options including the divesture of...
Nike is reportedly contemplating strategic options including the divesture of Hurley, the group's boardsports apparel brand. The information came just after that of the appointment of John Schweitzer as Hurley's chief executive and chief financial officer. He is replacing Bob Coombes, who was made general manager in 2015, with the ...
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News briefs
Didriksons has recently invested in a new headquarters in Borås, Sweden,...
Didriksons has recently invested in a new headquarters in Borås, Sweden, as well as in a new warehouse. The Swedish brand of rain and functional apparel was taken over in August 2018 by Adelis Equity Partners, an investment fund that acquired a majority stake from another fund managed by Herkules Capita. The parent company ...
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Short stops
Macron has announced the start of the construction work for...
Macron has announced the start of the construction work for its new 22,000-square-meter headquarters in Valsamoggia, near Bologna, which is expected to be opened in 2020
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Article
StockX achieves a valuation of $1 billion
The sneaker resale market is hot. StockX, the self-described “stock market of things,” has secured a new round of funding and named a new chief executive. The investment firms of DST Global, General Atlantic and GGV Capital – along with investors from the previous round, such as GV and Battery ...
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News briefs
Just as we are going to press, we hear that...
Just as we are going to press, we hear that Kjus, the premium Swiss brand of ski and golf clothing, is being acquired by Acushnet Holdings, the golf equipment group controlled by Fila Korea. Kjus' founder, Didi Serena, and his son Nico are expected to continue to be involved in ...
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News briefs
Anta Sports Products, the new owner of Amer Sports, has...
Anta Sports Products, the new owner of Amer Sports, has denied once again allegations of falsifying its accounts. The latest claim came from a U.S.-based short seller, Muddy Waters, which said that the Chinese company had fraudulently boosted its reported profit margins through the control it has on its distributors. ...
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News briefs
Amer Sports has completed the divestment of Mavic, which is...
Amer Sports has completed the divestment of Mavic, which is now the property of a private equity firm, Regent. The sale will have no impact of Amer's results. The group's cycling business was already listed as discontinued in its financial results for 2018.
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News briefs
KjK Sports, the investment fund that recently acquired Elan, has...
KjK Sports, the investment fund that recently acquired Elan, has signed a definitive agreement to take over Baltic Bicycle Trade, a maker of e-bikes based in Lithuania. The deal should be completed in the third quarter. The fund previously bought a 50 percent stake in an Estonian water sports company, ...
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News briefs
Puma is folding three companies that it owns into a...
Puma is folding three companies that it owns into a single new entity, called Stichd. Prime among these is Dobotex, which Puma acquired in 2012 and which designs and manufactures bodywear, legwear, swimwear and fanwear for multiple international brands. The company makes Puma socks, while working for other brands. Since ...
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News briefs
New Balance plans to inaugurate a new factory in Methuen,...
New Balance plans to inaugurate a new factory in Methuen, Massachusetts, in 2020. The 80,000-square-foot facility, whose building was purchased in April, will be the American multinational's sixth in New England and its first to open in two decades. It is costing about $33 million. The Boston Globe reports that ...
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News briefs
Acting through an investment subsidiary called Asics Ventures, Asics Corp....
Acting through an investment subsidiary called Asics Ventures, Asics Corp. has acquired a stake in Curv Labs, a Canadian start-up whose software uses artificial intelligence vision technology to turn the cameras of mobile devices into motion capture tools. This technology allows smartphones and other devices to measure and analyze user ...
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News briefs
Active Brands has acquired the rights to Greater Than A,...
Active Brands has acquired the rights to Greater Than A, the brand of underwear and leisure clothing launched in the spring of 2018 by a Norwegian alpine ski star, Aksel Lund Svindal. The agreement takes effect on November 1, 2019. Active Brands plans to expand the range and to distribute ...
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News briefs
Mips, the Swedish company behind the Mips BPS (Brain Protection...
Mips, the Swedish company behind the Mips BPS (Brain Protection System) supplied to helmet brands, has acquired GlideWear from Tamarack Habilitation Technologies of Blaine, Minnesota. The deal, worth about $1 million, covers the brand name and its associated patents. Tamarack is to retain an eight-year, royalty-free license to use GlideWear ...
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News briefs
Rapala VMC Corp. has agreed to acquire a 49 percent...
Rapala VMC Corp. has agreed to acquire a 49 percent interest in DQC International Corp., known also as 13 Fishing, in exchange for at least $3.1 million in cash and 225,000 treasury shares in Rapala. The cash payment can be raised to a maximum of $5 million based on an ...
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News briefs
Shimano Nordic just opened a new office complex in Uppsala,...
Shimano Nordic just opened a new office complex in Uppsala, Sweden. The grand opening event gave visitors a look at the new facility as well as information about the company's product portfolio, which also includes the brands Lazer, Pearl Izumi, Vittoria, Kryptonite and Elite.
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News briefs
Go Sport has sold Tool Fitness to Netquattro, a French...
Go Sport has sold Tool Fitness to Netquattro, a French company specializing in the design and marketing of fitness equipment, training apparel and food supplements. Tool Fitness is a B2B and B2C online retailer of fitness equipment. Go Sport had acquired it in 2015.
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Short stops
Rapala VMC is considering the issuance of a non-convertible hybrid...
Rapala VMC is considering the issuance of a non-convertible hybrid bond, subordinated to its other debt obligations, which would be treated as equity without diluting the interests of its current shareholders
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Short stops
The Wassermann Media Group, which represents numerous sports properties including...
The Wassermann Media Group, which represents numerous sports properties including the victorious U.S. women's football team, is reportedly discussing the acquisition of a similar French-based group, Lagardère Sports and Entertainment, for a purchase price in the range of $250 million to $300 million
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News briefs
XXL ASA, the highly leveraged Norwegian-based sports retailer, says it...
XXL ASA, the highly leveraged Norwegian-based sports retailer, says it has agreed on a new covenant with its bank consortium for its third-quarter results. Last February, it had renegotiated covenants for the first and second quarters of this year. The covenant for the third quarter sets a debt/Ebitda target of ...
