News briefs - Corporate and M&A – Page 30
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News briefsWeSports strengthens position in floorball with purchase of Evosport, owner of Oxdog
WeSports, a Stockholm-based group of individual sports, outdoor and mobility companies operating both online and with physical stores and product brands, has acquired Evosport AB. Founded in 2011, Evosport designs, develops and distributes floorball products and equipment globally under the Oxdog brand, the largest floorball brand on social media, according ...
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News briefsSerena Williams’ venture fund invests seven-figure sum in U.K. sports tech platform
OpenSponsorship, a sports marketing startup founded in New York in 2015 by British entrepreneur Ishveen Jolly, has secured a seven-figure investment from Serena Ventures to support the company’s expansion into the UK. Ishveen, who was then a sports agent, started OpenSponsorship as an alternative way for athletes to access brands ...
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News briefsSouth African sportswear retailer Studio 88 Group acquired by Mr Price
Fashion and home goods retailer Mr Price, a publicly-traded company based in Durban, South Africa, announced that it is acquiring 70 percent of the shares in Studio 88 Group, a major retailer of sneakers and apparel from Nike, Adidas, Vans and many other sportswear brands in South Africa, for 3.3 ...
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News briefsNPD merges with IRI to create new global analytics and data provider
Information Resources, Inc. (IRI), a U.S.-based global company providing solutions and services for consumer, retail and media companies, and the market research firm NPD Group from New York, known as a provider of market information and advisory services in more than 20 industries, have signed a definitive agreement to merge ...
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News briefsGymshark plans global restructuring in preparation for expansion
According to various media reports, Gymshark is restructuring its business, a move that most probably will lead to the loss of jobs globally. The brand is reportedly undergoing the restructuring process to improve cross-functional working, guarantee localized accountability, remove duplication and ensure efficiency in teams, processes and systems. As a ...
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News briefsBode Miller enters DTC ski business with Peak Ski
The newly founded Peak Ski Company LLC, based in Bozeman, Montana, has just launched its first six ski models offered direct-to-consumer through its website for the winter season 2022/23. Owners of the start-up are former World Cup pro skier Bode Miller and co-founder Andy Wirth, a ski industry veteran who ...
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News briefs
iFit formally withdraws initial public offering
iFit Health & Fitness, the U.S. connected fitness company, has formally withdrawn its registration statement for an initial public offering, a plan it suspended last fall, citing difficult market conditions. The company applied to the U.S. Securities and Exchange Commission (SEC) for a credit for registration fees paid. A month ...
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News briefsSumitomo with brand realignment in North America
In a global alignment strategy, the sports business for Sumitomo Rubber Industries (SRI) will be affiliated under the Dunlop brand umbrella. Roger Cleveland Golf Company, which is SRI’s North American sales company, currently operating as Srixon/Cleveland Golf/XXIO, will now be doing business as Dunlop Sports Americas. Based in Kobe, Japan, ...
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News briefs
Alpex acquires NT Majocchi
Alpex Protection has acquired NT Majocchi, an Italian developer of performance textile solutions for sports and work apparel based in Tavernerio, near Como. Alpex is a French technical textiles manufacturer headquartered in Saint-Chamond, in the Loire department. InnovaFonds, an independent management company, acquired a majority stake in Alpex in October ...
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News briefsItochu acquires stake in Under Armour’s exclusive Japanese distributor
Tokyo-based Itochu Corporation, one of Japan’s largest trading corporations, announced on April 5 that it has agreed to acquire a majority of the outstanding shares of Dome Corporation, also based in Tokyo and Under Armour’s exclusive Japanese distributor. Dome will be managed in the future by Itochu and Under Armour, ...
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News briefs
Fairbrics raises €6.5 million to develop carbon-neutral fabrics
Fairbrics, a French sustainable textile start-up, has raised more than €6.5 million in pre-Series A funding. AP Ventures lead the financing round. H&M CO:LAB, the venture capital arm of the H&M Group, joined the round alongside existing investors, including Sake Bosch. Fairbrics creates carbon-neutral fabrics for the fashion industry. The ...
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News briefs
Centr, Inspire Fitness merger has Hollywood, Amazon components
The Aussie actor who plays Thor and the brother of Amazon founder Jeff Bezos have teamed up to create a new health and wellness platform with global aspirations. HighPost Capital, a private equity firm led by David Moross and Mark Bezos, has acquired Centr, a digital fitness platform founded by ...
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News briefs
Revo expands golf division to include racquet sports
Revo is now including racquet sports within its golf division and has expanded its team of tennis representatives by six – in response, it says, to “industry growth in the golf, tennis and pickleball categories.” The sunglass and goggle brand’s Light Management System for lenses is derived from techniques developed ...
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News briefs
RocRoi buys majority stake in UR Pirineos
According to CMDsport, RocRoi of Catalonia has acquired a majority stake in UR Pirineos of Aragon, which offers both all manner of outdoor activities (rafting, paintball, climbing, etc.) and training in them (rescue operations included). The move should turn RocRoi into the largest purveyor of adventure sports in southern Europe. ...
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News briefsMoody’s lowers Boardriders’ debt rating
Moody’s has lowered the corporate family rating of the parent company of Quiksilver, Boardriders, Element, Roxy, RVCA and DC Shoes from Caa1 to Caa2 and the senior secured credit facility rating from B3 to Caa1. The rating agency cited weak credit metrics, including a leverage ratio of nearly 8x and ...
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News briefsFootwear start-up Hylo raises €2.9 million for low-CO2 vegan shoes
The U.K.-based brand Hylo Athletics, co-founded by ex-football professional Michael Doughty in 2020, has secured €2.9 million in a Series A funding round for its vegan-friendly sneakers that are made with natural rubber, cotton, algae and corn fiber. The company claims the “corn runners” have a 52 percent lower carbon ...
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News briefsNew Balance opens fifth North American factory
New Balance has opened its 80,000-square-foot “Factory of the Future” in Methuen, Mass. for production of its Made 990v5 model. The Methuen plant, which underwent a roughly $20 million renovation, is the company’s fifth factory in North America. All five factories contribute to the production of “New Balance Made” sneakers, ...
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News briefsDainese wants to grow in Asia and the U.S. while doubling revenues
In a recent interview with Italian newspaper La Stampa on March 21, Cristiano Silei, who has been at the head of Dainese for the last seven years, said that the company is putting growth in Asia and the U.S. at the heart of its expansion plans. The brand is already ...
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News briefs
Circle Sportswear raises €2.5 million
Circle Sportswear, a French start-up, has raised €2.5 million in new funding round, less than one year after raising €1 million in April 2021. The new funds will support product innovation and the expansion of the company’s presence in markets across Europe and the U.S. Founded by Romain Trébuil and ...
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News briefs
Balance Athletica to change name to Vitality
Balance Athletica, a Denver-based athleisure brand founded in 2018, has announced that it will change its name to Vitality. The announcement follows a trademark infringement lawsuit filed by New Balance in the U.S. District Court of Massachusetts in November 2020. New Balance claimed that Balance Athletica used a “confusingly similar ...
