News briefs - Corporate and M&A – Page 86
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News briefs
Polartec has been taking flak over its plans to shut...
Polartec has been taking flak over its plans to shut down its manufacturing plant in Lawrence, Massachusetts, after it filed paperwork disclosing its intentions to start laying off workers. United Here, the trade union that represents most of the workers, wrote an open letter to Rose Marcario, chief executive at ...
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News briefs
The Adidas Group says that its pilot plant for fast...
The Adidas Group says that its pilot plant for fast footwear production in Ansbach, Germany, is ready to start commercial production in 2017. The Speed Factory is to operate mostly with robots. The project was unveiled last year as part of the group's “Creating the new” strategy, which has speed ...
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News briefs
Acting through a subsidiary, Eurazeo has sold 19.5 million shares...
Acting through a subsidiary, Eurazeo has sold 19.5 million shares in Moncler, representing about 7.8 percent of the equity, for about €340 million. Its stake is thus reduced to about 13 percent.
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News briefs
GoPro and Red Bull have announced a multi-year, global strategic...
GoPro and Red Bull have announced a multi-year, global strategic partnership where Red Bull will receive equity in the U.S. action camera manufacturer and GoPro will become Red Bull's exclusive provider of point-of-view imaging technology for Red Bull's media productions and events. Under the agreement, GoPro will have access to ...
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News briefs
Asics is opening a subsidiary in Dubai, to more rapidly...
Asics is opening a subsidiary in Dubai, to more rapidly expand the brand in the region of the Gulf Cooperation Council (GCC). It will take over from Falaknaz, a distribution company that has represented the Japanese brand in the region since 2003. Asics says the opening is part of its ...
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News briefs
Canyon Bicycles has announced it will enter the U.S. market...
Canyon Bicycles has announced it will enter the U.S. market in 2017 via a new partnership with TSG Consumer Partners, the private equity firm that acquired Backcountry.com last year. Canyon will remain an independent entity, entirely separate from TSG's other investments, while TSG will hold a significant minority stake. Final ...
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News briefs
Newell Brands, which recently closed its acquisition of Jarden Corp.,...
Newell Brands, which recently closed its acquisition of Jarden Corp., on April 15, has announced it will establish a new global headquarters in Hoboken, New Jersey. The group has secured $27 million in tax incentives from the New Jersey Economic Development Authority, which will help offset the costs associated with ...
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News briefs
Halfords has announced the acquisition of Tredz and Wheelies Direct....
Halfords has announced the acquisition of Tredz and Wheelies Direct. Tredz is an online retailer of premium bicycles and cycling parts, accessories and clothing that sell across the U.K. under the Tredz brand. Wheelies Direct is the U.K.'s largest provider of bicycle replacement for insurance companies. The two businesses collectively ...
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News briefs
Sports Direct International (SDI) has reportedly been outbid in its...
Sports Direct International (SDI) has reportedly been outbid in its attempt to secure assets of BHS, a British chain offering clothing and household items that went into administration (a form of receivership) around the end of April. The Financial Times reports that the SDI proposition was lower than bids put ...
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News briefs
Schuh & Sport Mücke, the big German shoe and sporting...
Schuh & Sport Mücke, the big German shoe and sporting goods retail chain that was acquired by ANWR in May 2014, will not be converted to a public limited company. ANWR is now proposing to its general assembly, due to be held in Rotterdam on June 20, to keep it ...
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News briefs
The nominal shares of Intersport PSC, the Swiss licensee of...
The nominal shares of Intersport PSC, the Swiss licensee of Intersport, stopped trading on the SIX Swiss stock exchange on May 12. They can still be negotiated over the counter on the eKMU-X platform of Zurich's Cantonal Bank, BCZ.
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News briefs
Hydra Ventures, the venturing arm of the Adidas Group, has...
Hydra Ventures, the venturing arm of the Adidas Group, has become an investor in 360fly, a Californian company that specializes in single-lens cameras capturing 360-degree videos. Hydra Ventures came on board as part of a Series C round of financing worth $40 million. It joins L Catterton and Qualcomm Ventures, ...
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News briefs
Hanesbrands has expanded and priced its debt offering. It will...
Hanesbrands has expanded and priced its debt offering. It will sell $1.8 billion worth of senior executive notes in two tranches, up from a previous plan for $1.5 billion. The offering will consist of $900 million worth of senior notes maturing in 2024 and carrying interest of 4.625 percent, plus ...
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News briefs
Go Outdoors, the British outdoor retailer with 57 large-scale stores,...
Go Outdoors, the British outdoor retailer with 57 large-scale stores, is studying strategic options that could lead to a sale of at least part of its shares. Go Outdoors said it was in the initial stages of discussions with potential investors, as a means to fuel expansion. Chris Matthews, the ...
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News briefs
Fresh from its agreement to buy Champion Europe for about...
Fresh from its agreement to buy Champion Europe for about €200 million (see our previous issue), Hanesbrands announced the acquisition of Pacific Brands for an enterprise value of $800 million, a regular dividend and a new stock buyback program worth up to $1 billion at today's prices. The purchase price ...
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News briefs
Confirming a report in Drapers magazine, Fran Allen, who has...
Confirming a report in Drapers magazine, Fran Allen, who has been vice president of New Balance for the Europe, Middle East and Africa (EMEA) region since February 2015, doesn't exclude the possibility that the company will take over the distribution in some other European countries, as it recently did in ...
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News briefs
Lion Capital, an investment company based in the U.K., has...
Lion Capital, an investment company based in the U.K., has taken a minority stake of 20 percent in the Authentic Brands Group, the company that owns 23 brands including Airwalk, Muhammad Ali, Spyder Action Sports, Shaquille O'Neil, and Tretorn among other assets. The majority is still held by its founder ...
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News briefs
Sram has announced a restructuring program involving the layoffs of...
Sram has announced a restructuring program involving the layoffs of around 40 employees globally due to soft sales over the past year. The company said it intends to focus on new business areas in order to be more aligned with the competitive dynamics of the industry. The 40 employees it ...
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News briefs
Nike is recommending rejection of an unsolicited offer made by...
Nike is recommending rejection of an unsolicited offer made by a Canadian investment firm, TRC Capital Corp., to purchase up to two million shares of Class B common stock, amounting to less than one-sixth of one percent of all outstanding shares. Nike noted that the offer price of $57.00 is ...
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News briefs
The Kufner Group, a leading global supplier of interlinings and...
The Kufner Group, a leading global supplier of interlinings and technical textiles, will take over Ploucquet and its production site in Zittau, Germany, from Smart Solutions Holding, formerly Sympatex Holding, with effect from April 20. Sympatex Holding, parent company of Sympatex, changed its name to Smart Solutions Holding in February. ...
