News briefs - Corporate and M&A – Page 35
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News briefs
JD goes for a five-for-one stock split
With 100 percent of the votes cast in favor of a proposed resolution, a general shareholders’ meeting of JD Sports Fashion decided on Nov. 26 to divide each ordinary share of 0.25 pence into five ordinary shares of 0.05 pence. The 5,158,135,745 new shares, all with voting rights, will start ...
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News briefs
Rudholm Group acquires Euro Brand Management for sustainable packaging
The Rudholm Group (RH), a Swedish-based supplier of garment accessories, packaging and logistical services for apparel producers, has taken over Euro Brand Management (EBM), a Munich-based company specializing in sustainable packaging and supply chain management solutions in all the segments of the footwear market. Founded in 1951 by the eponymous ...
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News briefs
A second logistics hub for growing Intersport France
Intersport France has launched the project for the establishment of a second logistics platform of 84,000 square meters in the area of Château-Renault in the Loire Valley, in collaboration with local authorities. Scheduled to go on stream in 2024, it would employ about 150 people at the start, growing to ...
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News briefs
Rossignol sells Felt Bicycles to Pierer Mobility
The Rossignol Group has agreed to sell its American brand of road and racing bicycles, Felt, to the Pierer Mobility Group, a European leader in “powered two-wheelers,” including motorcycles and e-bikes, based in Austria. In announcing the move, without mentioning the agreed price, the French company explained it with a ...
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News briefs
S&P improves Callaway's outlook to stable
Callaway Golf’s better-than-expected results have led Standard & Poor’s to upgrade its outlook for the company and its TopGolf subsidiary from negative to stable, while affirming their present credit ratings. Both S&P and Moody’s had been skeptical because of Callaway’s high debt and TopGolf’s losses. With Callaway reporting better sales ...
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News briefs
Karakoram to make snowboard bindings at a new U.S. factory
While continuing to get them made in the U.S., Karakoram, the American supplier of splitboard bindings founded by Bryce and Tyler Kloster in 2008, will move into a new factory in North Bend, Washington state, close to the mountain region around Snoqualmie Pass. The company has just come out with ...
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News briefs
StockX acquires Scout
StockX is making its first acquisition, and the target company is Scout, which has developed a the cloud-based inventory-management software topShelf. Once the deal goes through and the integration is completed, StockX will be inviting certain subscribers to use Scout’s automation, inventory management, distribution and pricing tools free of charge. ...
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News briefs
Nike raises its quarterly dividend
Despite the current supply chain challenges, Nike’s board of directors has decided to grant a quarterly cash dividend of 30.5 cents per share to its shareholder on Dec. 28, for an increase of 11 percent versus the previous quarterly dividend. Noting that this is the company’s 20th consecutive year of ...
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News briefs
Peloton offers over $1.1 bn in new shares
With its cash flow turned negative by $522 million at the end of its September quarter, Peloton Interactive has decided to launch a secondary offering for 23.9 million Class A shares priced at $46 each to raise $1,099 million. It is also proposing an over-allotment of $150 million depending on ...
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News briefs
Intersport Spain has sold its HQ
According to CMDsport, Intersport Spain will be moving out of its headquarters in the city of Rubí, in the province of Barcelona, on Nov. 19. The buying group inaugurated the site in 1989 and has now sold it, for some $5 million, to an as yet unnamed investment fund. It ...
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News briefs
Allbirds’ IPO proceeds rise to $348 million
The underwriters of Allbirds’ public offering fully exercised an over-allotment option to purchase additional shares, which was not surprising in view of the doubling in the initially offered price of $15 a share in the course of trading. All in all, Allbirds has placed a total of 16,850,799 shares, raising ...
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News briefs
No immediate plans for Gymshark’s IPO
Indicating that Gymshark’s sales almost doubled to £400 million (€470m-$543m) in the 12 months ended in July, Ben Francis, the young co-founder and CEO of the nine-year-old British fitness apparel company, tells The Financial Times that there are no immediate plans for it to go public. He confirmed that he ...
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News briefsPuma opens new North American HQ
Puma has inaugurated new headquarters for North America. Located at Assembly Row in the Boston suburb of Somerville, the 150,000-square-foot office combines the staffs – about 450 employees – from two offices in Boston proper and Westford. It was designed by the architectural firm Gensler and built by Timberline Construction. ...
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News briefs
Coke buys sports-drink brand Bodyarmor
The Coca-Cola Company has acquired Bodyarmor, a sports drink producer founded in 2011, for approximately $5.6 billion.This is the largest acquisition in Coca-Cola’s history, overtaking that of the Costa coffee chain in 2018 for $5.1 billion. The soda king has been Bodyarmor’s second-largest shareholder, with a 15 percent stake, since ...
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News briefs
Reebok’s founder gets Drapers’ Lifetime Achievement Award
Joe Foster, who founded Reebok along with his late brother Jeff in 1958, received this year’s Life Achievement Award from the British Drapers magazine, coinciding with the sale of the brand to the Authentic Brands Group. Foster stepped back in 1989, and the move made the front page of the ...
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News briefs
Out Of, the Italian sun lens start-up, gets Elite status
Out Of, a young company that recently launched the first electronic lens that adapts its tint to ambient light automatically in less than a second without using a battery, is one of 20 Italian start-ups that have joined Elite, a private market of the Italian Stock Exchange, with the support ...
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News briefs
Skechers may restructure its Asian business, making it worth $1.5bn
Skechers is considering various strategic options for its operations in Asia including a possible public offering on the Hong Kong Stock Exchange, says Bloomberg, quoting knowledgeable sources. An IPO could raise as much as $1.5 billion, according to the report, but Skechers would have to buy out first the shares ...
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News briefs
Galaxy will buy Sequential’s active brands for $330m
Galaxy Universal announced that it has won the auction for the active brands portfolio of the bankrupt Sequential Brands Group, which includes And1, Avia, Gaiam and SPRI. The $330 million deal, which is still subject to court approval, is expected to close in mid-November. Galaxy had already made a “stalking ...
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News briefs
Li Ning raises equity by €1.16bn for international expansion and other purposes
Li Ning Company said it is planning to sell 120 million new shares worth a total of HK$10.5 billion (€1.16bn-$1.35bn) to raise funds for its international expansion, which has not been easy until now, and for investments in new product categories. The proceeds would also be used for the establishment ...
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News briefs
Wolverine amends its credit facilities
Wolverine Worldwide has amended and extended its credit agreement with JP Morgan Chase, refinancing a $200 million term loan and taking its existing revolving credit up from $800 million to $1 billion. The maturity of both credit facilities has been stretched to end on Oct. 21, 2026. There was an ...
