News briefs - Corporate and M&A – Page 39
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News briefs
Fernando Alonso’s brand Kimoa acquired by Revolution Brands
Kimoa, the sports-inspired eyewear and apparel brand created by Formula 1 champion Fernando Alonso, has been acquired by Revolution Brands International. Under the terms of the agreement, Alonso will retain a 25 percent interest in Kimoa. The two-time Formula 1 champion will also continue to serve as the global ambassador ...
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News briefs
Japanese sneaker platform Soda raises $56 million
Japanese sneaker platform Soda raised 6.2 billion yen (€48.1m-$56.4m) in a Series C funding. The main investor was Kream Corporation, a South Korean sneaker reselling platform that is part of the portfolio of South Korean SoftBank Ventures Asia, which in turn is also one of the Series C investors, along ...
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News briefs
Humanoo’s digital health platform raises $10 million
Humanoo, an automated B2B digital health platform used by corporations and health insurance companies founded in Berlin five years ago, has completed a $10 million round of funding involving new investors such as Sanitas and Verve and existing investors including Rocket Internet. Switzerland’s two largest health insurance companies, the CSS ...
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News briefs
Under Armour redeems bonds worth $159.1m
Starting on Aug. 23, Under Armour will be redeeming about $159.1 million worth of convertible 1.50 percent senior notes due 2024, exchanging them with certain noteholders for cash or shares. They will also be paid for accrued unpaid interest. The transaction will cover about 68 percent of the outstanding principal ...
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News briefs
El Corte Inglés recovers, cuts off suppliers
El Corte Inglés, which is a major factor in the Spanish sporting goods sector through its department stores, plans to cut down by almost one-half the number of its suppliers under a program that started three years ago, according to El Economista. Meanwhile, the group has been recovering strongly from ...
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News briefs
Lululemon invests in Genomatica for plant-based nylon
Lululemon has made an unspecified investment in Genomatica to help develop renewably sourced and bio-based material for its own product line. They plan to create plant-based nylon to replace synthetic nylon, using biotechnology and fermentation to convert plant-based ingredients into chemical building blocks, like those used to make nylon, that ...
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News briefs
Pale Fire Capital invests US$6 million in Rouvy
Pale Fire Capital, a private equity firm based in Prague, has acquired a major stake in VirtualTraining, the Czech company behind the Rouvy indoor cycling and running software application. The deal is expected to close by the end of September. The new investment is meant to help Rouvy surpass the ...
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News briefs
Spain’s Mundo Fitness posted record sales ahead of a merger
According to CMDsport, Mundo Fitness Europe posted record annual sales for 2020 of €12.78 million ahead of its merger with another company, exceeding the previous year’s sales by 138 percent. Net profits of €1,004,436 were up year-on-year by 2.5 percent. The Spanish-based retailer specializing in fitness equipment operates chiefly through ...
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News briefs
Nike to change name of its Alberto Salazar building
According to Fashion News, Nike is changing the name of one of the buildings at its headquarters – in Beaverton, Oregon – from Alberto Salazar to Next%, the name of the distance-running line of sneakers that Eliud Kipchoge wore when he delivered a sub-two-hour time in an unofficial marathon. Back ...
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ABG may lose its rating if it delays its IPO
Standard & Poor’s indicated that it may downgrade its ratings for the Authentic Brands Group (ABG) if it delays its planned public offering, which would help it to finance its €2.1 billion acquisition of Reebok, or if the IPO would lead the institutional investors that have been sponsoring its expansion ...
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News briefs
Wolverine plans to offer $550m in 4.000% notes
Wolverine Worldwide announced the planned issue to institutional investors of $550 million worth of new senior notes due in 2029 bearing annual interest of 4.000%. It will use the proceeds to redeem all its outstanding 6.375% notes due in 2026 and 5.000% notes due in 2026. The group said it ...
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News briefs
Adidas inaugurates first Tech Hub office in India
Adidas has launched the Adidas India Tech Hub office in Gurugram (or Gurgaon), a city just southwest of New Delhi that is known as a financial and technology hub. The office was officially inaugurated on Aug. 9. The Indian Tech Hub will be home to the local marketing organization and ...
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News briefs
Messi’s departure from Barça could shave the club’s brand value by 11%
Brand Finance, the international brand valuation and strategy consultancy headquartered in London, said that Lionel Messi’s departure could decrease FC Barcelona’s brand value by 11 percent. This means that the departure of the Argentinean star could cost the club €137 million off its 2021 valuation of €1,266 million. Barcelona ranks ...
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News briefs
Sequential sells two more brands
After reporting the sale of its DVS brand of skate shoes to Elan Polo, the struggling Sequential Brands Group has announced the sale of Ellen Tracy for $17 million and Caribbean Joe for $3 million. The buyer is the GMA Group, which owns Capelli New York and other brands. SBG ...
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News briefs
Crocs completes new $350m bond issue
Crocs said it completed on Aug. 10 the issuance and sale of $350 million worth of senior notes carrying annual interest of 4.125 percent and due to mature on Aug. 15, 2031. They will be used for share buybacks and general corporate purposes. The notes were purchased by several institutional ...
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News briefs
German webshop content provider sportshop.cloud acquired by Fashion Cloud
“Content is king,” says the homepage of sportshop.cloud, a Bavarian start-up that helps more than 500 sports and outdoor brands to collect, process and provide product data, text and content ready to use in their B2B websites. Operated by Zandy Media, which was only founded in February 2019, sportshop.cloud has ...
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SRAM integrates Time Sport into its manufacturing and distribution apparatus
Last February, the U.S.-based SRAM Group acquired the pedal business of France’s Time Sport, a former property of the Rossignol Group, including all related patents. It subsequently set up a pedal manufacturing facility in Coimbra, Portugal. SRAM already manufactures SRAM chains and Zipp wheels in Coimbra. Meanwhile, the group has ...
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Rens aims to raise $1 million to fund a sneaker made from coffee waste
Rens Original, the Finnish start-up that claims to have developed the world’s first sneakers made from coffee waste, is looking to raise $1 million to fund the manufacture of its new Nomad shoe, presented as “the world’s first crowdfunded climate neutral sneaker.” Rens Original made its debut in the summer ...
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News briefs
Bauer Hockey acquires a skate sharpening firm
Bauer Hockey has announced its takeover of ProSharp, a skate sharpening and profiling company based in Sundsvall, Sweden. Founded in 1984, ProSharp is a partner of the Swedish Ice Hockey Association, among others, and is trusted by hockey players in the National Hockey League (NHL) as well as national teams ...
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News briefs
Iconix redeems its notes while merging with Lancer
The Iconix Brand Group has announced the full redemption of its outstanding 5.75 percent convertible senior notes, which were due in 2023, at their initial aggregate price of $125 million plus accrued interest, in connection with its planned merger with Lancer Capital on Aug. 4. The announcement coincided with the ...
