News briefs - Corporate and M&A – Page 43
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News briefs
Prevayl secures £7.5 million investment
Prevayl, a start-up specializing in “intelligent” and connected sportswear based in Manchester, has secured a £7.5 million (€8.7m-$10.6m) pre-revenue investment that is supposed to help the company “take wearable health technology to new heights.” The investment has been made by Stonebridge, the private equity fund headed by James Cox. Prevayl ...
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News briefs
Peloton plans to enter one or two markets each year
While confirming its entry into the Australian market, which is expected to coincide with the start of its 2021/22 financial year on July 1, Peloton Interactive said it plans to move into one or two additional foreign markets each year. Addressing financial analysts at the Bank of America’s Securities Global ...
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News briefs
Growing Eleiko makes new investments
Eleiko, the leading Swedish-based producer of weightlifting equipment, has started construction of a new logistics center in Halmstad, close to its head office in Kistinge, to help cope with its continued growth, which reportedly led it to book sales of about 500 million Swedish kronor (€45m-$60m) last year, up from ...
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News briefs
Stone Island’s president has bought a football club
Carlo Rivetti, president of the Italian sportswear brand Stone Island recently acquired by Moncler, has taken complete ownership of Modena FC 2018, a football club based less than 20 kilometers from the brand’s headquarters in Ravarino. The club has been acquired from Kerakoll, its previous owners, via Rivetex, the financial ...
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News briefs
Livall’s high-tech bike helmet raises over $300,000 on Indiegogo
Livall has announced that the campaign for the official launch of its EVO21 smart bike helmet on Indiegogo has now raised over $300,000 from more than 2,100 backers. The campaign debuted on Indiegogo on May 13, and Livall plans to start shipping the new helmet globally this month. The EVO21, ...
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News briefs
Kathmandu signs new green credit facilities
Kathmandu Holdings, which owns the Kathmandu, Rip Curl and Oboz brands, has already been recognized as a certified B Corp. The company has now refinanced its credit facilities with two others where the borrowing costs are linked to the achievement of certain targets for reduced carbon emissions, transparency and labor ...
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News briefs
361° retires the rest of its debt
361 Degrees has fully redeemed the remaining principal of around $130 million still outstanding from the the Chinese sports brand’s senior noted due on June 3, which were yielding an annual interest of 7.25 percent. The company had repurchased other tranches in the past two years. After this move, Standard ...
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News briefs
Deporvillage to get a new HQ
Deporvillage plans to move its headquarters to new buildings in the Catalonian municipality of Sant Fruitós de Bages sometime late this year. There the staff, which recently came to exceed 100, will occupy 2,500 square meters of space. The Spanish e-tailer last expanded its office space in 2017, and has ...
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News briefsClarus to acquire Australian roof rack manufacturer Rhino-Rack
Clarus Corp., the Utah-based parent of Black Diamond, Sierra Bullets and Pieps, among others, has reported a definitive agreement to acquire Rhino-Rack Pty, an Australian-based manufacturer and distributor of roof racks, mounting systems, luggage boxes, carriers and other automotive accessories, for a total purchase price of around 255 million Australian ...
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News briefs
Snipes buys a Polish chain
Snipes, the German-based sneaker and streetwear retail chain owned by Deichmann, is expanding to Poland with the acquisition of Distance, a retail chain founded in 2003 that sells soùoamr products through 31 physical stores in the country and an online shop that can be accessed from 20 European countries. No ...
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News briefs
Under Armour will redeem $250m worth of notes
To further boost its liquidity, while reducing its annual interest payments by about $3.75 million, Under Armour is exchanging half of the $500 million in convertible senior notes that it issued last spring with cash and Class C common shares. The bonds being redeemed currently yield an annual interest of ...
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News briefs
Maxpro announces Shaquille O’Neal as a new investor
Maxpro, a Detroit-based start-up specializing in connected fitness equipment, has announced a strategic partnership with the American basketball legend Shaquille O’Neal, who has invested in the company. Maxpro was founded in 2019 by a former athlete, Nezar Akeel. Since then, the company has grown from a pre-revenue Kickstarter campaign to ...
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News briefsMacron inaugurates its new HQ
With the company’s 50th anniversary approaching, Macron has inaugurated its new headquarters with an open house for the VIPs of Bologna’s society. The company broke ground for the new campus in July 2019 in the town of Valsamoggia, Italy, situated 10 km from Bologna, 25 km from Modena and right ...
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News briefs
Kering sells a 5.9% stake in Puma
Kering said it has launched a private placement for about 8.9 million shares in Puma among qualified investors through an accelerated book-building process. For Kering, which has been focusing on the luxury goods sector lately, the move would generate proceeds of more than €800 million at the current stock market ...
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News briefs
ABG may go public
The Authentic Brands Group has confidentially filed an application for an initial public offering (IPO), according to Women’s Wear Daily, whose sources apparently confirmed a previous report in Bloomberg that ABG was exploring a potential IPO that could value the group at about $10 billion. The IPO that could be ...
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News briefs
The NBA forms NBA Africa
The National Basketball Association (NBA) has announced the formation of NBA Africa, a new entity that will operate the league’s business in the African continent. This will include the Basketball Africa League (BAL), jointly operated by the NBA and the International Basketball Federation (FIBA), and the NBA’s first collaboration to ...
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News briefs
Peloton plans a $400m factory in Ohio
Peloton Interactive has announced a plan to invest $400 million in a new U.S. factory to make its stationary bikes and treadmills, which currently come mainly from Taiwan, to help accelerate deliveries to customers. Located in the Troy Township of Wood Country, Ohio, the new facility should start up in ...
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News briefs
BH Fitness is expanding its football business
According to a report in CMDsport, BH Fitness hopes over the coming months to raise the number of its contracts with Spanish football clubs from five to nine. At present, the brand fits out the clubs of Atlético de Madrid, Athletic Club, Leganés, Eibar and Alavés-Baskonia. It has deals in ...
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News briefs
Moody’s upgrades Under Armour’s outlook and liquidity rating
Following as similar recent move by Standard & Poor’s, Moody’s has revised its outlook for Under Armour to positive from negative because of its improved operating performance, especially in North America, and better credit metrics and liquidity. The agency has upgraded its speculative grade liquidity rating for UA to SGL-1 ...
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News briefs
Skechers projects operating margins in the mid-teens
Skechers sees no structural impediment to reaching an operating margin in the mid-teens in the long term, compared with the 10 percent margin reached in 2019. The company told investors at a “Life After Covid” conference organized by Morgan Stanley that its centralized product development, management and marketing structure will ...
