News briefs - Corporate and M&A – Page 40
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News briefs
TAF in line for sales of $500m this year
Announcing the closing of the transaction for the planned sale of The Athlete’s Foot to the Arklyz Group, Intersport International Corp. says the lifestyle footwear chain’s franchisees around the world raised its sales by more than 40 percent in the first half of this year. Param Singh, owner and CEO ...
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News briefs
Federal authority confirms re-transfer of shares to Intersport Austria
The relevant authorities have approved the terms for the planned transfer of the shares in the Intersport Austria cooperative from Intersport Germany to the retail members of the Austrian buying group. Technically, the shares will be sold to a newly founded company, Premiumsport Service, based at Intersport Austria’s headquarters in ...
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News briefs
GBG USA files for bankruptcy
Global Brands Group’s U.S. subsidiary, GBG USA Inc., and 10 related businesses have filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Southern District of New York, citing assets and liabilities ranging from $1 billion to $10 billion. The group’s global brand management and European wholesale businesses ...
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News briefsS&P rates Decathlon A-2
S&P gave Decathlon a short-term issuer rating of A-2 because the French retailer’s performance exceeded the rating agency’s 2020 expectations. S&P was also pleased with the apparent recovery in the Decathlon’s chief markets, thanks to relaxed lockdowns, and with management’s preservation of cash and protection of credit metrics. Decathlon’s sales ...
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News briefsU.S. athletic apparel maker Courtsmith secures $300,000 equity investment
Oakland, California-based sportswear and lifestyle brand Courtsmith is the latest high-growth company in the investment portfolio of ICA, a U.S. nonprofit venture capital firm. Founded by Courtney “Court” Smith, Courtsmith just closed a $300,000 equity investment from the ICA Growth Fund. The brand first gained notoriety with its team uniforms ...
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News briefsAS Roma signs €36 million product partnership to support DigitalBits blockchain
AS Roma and U.S. fintech Zytara Labs have signed a three-year exclusive product partnership worth €36 million with the support of the DigitalBits Foundation (formerly XDB Foundation). The partners plan to use the DigitalBits blockchain to create official ASR blockchain-based digital assets, establish the digital assets as new purchasing methods, ...
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News briefs
New majority shareholder in Full Swing
Bruin Capital will be acquiring a majority stake in Full Swing from North Castle Partners. North Castle will be retaining a stake in the producer of sports simulators headquartered in Carlsbad, California. Although specialized in golf, Full Swing produces “dual-tracking” simulators for 13 sports disciplines for the commercial, residential and ...
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News briefs
Obé Fitness raises a further $15m
Now that it has raised a further $15 million, the Obé Fitness platform has achieved a valuation of $190 million. This latest round of funding was led by CAVU Venture Partners, with new investors such as Athleta, Samsung Next, Wheelhouse Entertainment and WW International in tow, along with previous investors ...
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News briefsJD Sports rents 47,000-sqm warehouse in England
JD Sports Fashion has signed a 20-year lease with Panattoni, a global logistics and industrial real estate development company based in Newport Beach, California, for a 47,770-square-meter speculatively developed facility at Derby Commercial Park in the East Midlands, England. Under the terms of the agreement, JD Sports leases Derby 515, ...
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News briefsiFIT acquires endurance experience company 29029
Utah-based company iFIT, a global brand for connected fitness software, content and exercise equipment (including the brands NordicTrack, ProForm and Freemotion), active in 120 countries, has acquired 29029, a company offering endurance hiking events. The acquisition delivers a new endurance athlete segment to iFIT’s community of over six million members ...
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News briefs
Sequential sells DVS Footwear
While exploring strategic options to keep afloat, the Sequential Brands Group has announced the sale of its 65 percent stake in DVS Footwear to Elan Polo International for $2 million in cash. DVS is a global American brand of skate shoes founded in 1995. In April, Sequential sold another footwear ...
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News briefs
Kassia Davis buys PF Flyers from New Balance
Kassia Davis has bought the 84-year-old PF Flyers brand of sports shoes from New Balance. She is a daughter of Jim Davis, controlling shareholder and chairman of New Balance, where she worked in a variety of positions for ten years until 2019. She then founded KADA, a brand of sustainable ...
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News briefs
JD Sports invests in Gym King
JD Sports Fashion has announced the acquisition of a “significant” minority stake in Gym King. Founded in 2015 by Jay Parker, Gym King is a U.K.-based brand of athleisure and performance wear. The deal is supposed to support Gym King’s growth and international expansion in the U.S., Europe and Asia, ...
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News briefs
L Catterton reportedly mulls IPO
L Catterton, the U.S.-based equity investment group partly owned by LVMH and the family holding company of its CEO, Bernard Arnault, has been conducting preliminary discussions with banks about a possible initial public offering, according to Reuters. The investment group’s assets of more than $28 billion include a recently acquired ...
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News briefs
Echelon Fitness contemplates financial options
Echelon Fitness, a direct competitor of Peloton Interactive in the connected home fitness market, is evaluating new options to raise its valuation, according to Bloomberg, as its revenues are expected to more than double this year after rising by about 500 percent in 2020 to around $100 million. The options ...
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News briefs
Signa Group company places a green bond
Signa Development Selection (SDS), a real estate investment company that belongs to Signa Holding, has successfully issued its first green bond. The €300 million bond carries a five-year maturity and a coupon of 5.50 percent a year. Placed with mainly European institutional investor, it was significantly oversubscribed, and 100 percent ...
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News briefs
Pomoca builds new headquarters and production site
Pomoca, a specialist in ski mountaineering skins that has been part of the Oberalp Group since 2011, is building a new factory and a new head office in Chavornay, about 25 km north of its current production and administration site in Denges, near Lausanne, Switzerland. According to a company statement, ...
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News briefsUSWE acquires VOID Cycling from Tenson
On July 16, USWE Sports, a company founded in Skåne, Sweden, in 2007, signed an agreement to acquire VOID Cycling, founded in Gothenburg in 2014, from Tenson and Color Group. Both USWE and VOID are strong in e-commerce and have each established a global presence. The merger follows a collaboration ...
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News briefs
Fabletics reportedly exploring IPO
Fabletics, the workout-apparel brand backed by the American actress Kate Hudson, is reportedly working with banks to prepare for an initial public offering (IPO) that should raise about $500 million and value the business at more than $5 billion. The Wall Street Journal reported that the company, owned by TechStyle ...
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News briefs
La Passione closes another funding round
A six-year-old Italian DTC cycling apparel brand, La Passione Cycling Couture (La Passione Srl), has raised €7 million in another round of financing. The cash injection comes partially from existing investors – Milano Investment Partner (MIP), Club Italia Investimenti 2, Club Digitale and Cyclo Club – who have been on ...
