News briefs - Corporate and M&A – Page 47
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News briefs
Moody's upgrades Topgolf's rating
Moody’s has upgraded the corporate family rating of the Topgolf Entertainment Group in view of the international venue operator’s support following its merger with Callaway Golf Co. The rating agency has also changed its outlook to stable. Moody’s expects that Topgolf will be in a position to start generating positive ...
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News briefsPure Fishing acquires Plano Synergy
Pure Fishing, the expanding U.S. fishing tackle conglomerate, has entered into a definitive agreement to acquire Plano Synergy Holdings, a Texas-based company founded in 1938 that owns several outdoor brands, including Ameristep, Avian-X, Barnett, Bloodsport, Evolved, Frabill, Flextone, Halo, No Limit, Plano Molding, Tenzing, Wildgame Innovations and Zink. The purchase ...
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News briefs
Updated: Rating agencies back Crocs’ new debt offering
Crocs has increased the size of a planned private placement from $300 million to $350 million, giving an indicative March 12 date for its closing. The placement consists of senior notes with a coupon rate of 4.250 percent due in 2029. Crocs said that it would set aside $180 million ...
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News briefs
Hobie Cat has been sold to executives from Maynards Industries
Hobie Cat Co., the U.S. company operating in the surf, paddlesports and stand-up paddle markets, has reportedly been sold to a private equity group consisting of executives from Maynards Industries, an industrial auction house. According to a report in SGB Executive, Hobie Cat “was discretely sold” to a team of ...
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News briefs
Ruffini sells 3.2% stake in Moncler
Ruffini Partecipazioni, the investment holding company of Moncler’s CEO, Remo Ruffini, has placed shares equal to a stake of around 3.2 percent in Moncler at a price of €48.80 per share via an accelerated bookbuilding process. Bank of America and Morgan Stanley have acted as joint bookrunners for the placement. ...
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News briefs
Callaway closes Topgolf’s acquisition
The merger of Callaway Golf Co. and Topgolf International has been completed, following approval of the deal by a majority of the shareholders of both companies. Topgolf’s assets include a number of golf driving ranges, a ball tracing system and other golf-related entertainment tools and media. As originally agreed last ...
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News briefs
El Corte Inglés discusses layoffs
El Corte Inglés has told the unions that it is considering between 3,000 and 3,500 voluntary layoffs as part of a reorganization of the company, which run Spain’s largest chain of department stores and multiple other operations, including shopping centers. Its department stores sell a lot of sporting goods, among ...
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News briefs
JD Sports in talks to acquire warehouse from Arcadia Group
According to Sky News, JD Sports Fashion is the front-runner in negotiations to acquire Arcadia Group’s warehouse in the English town of Daventry for around £60 to £90 million (€69m-$83m to €104m-$125m). Boohoo Group, Amazon and eBay have reportedly also expressed interest. A casualty of the pandemic lockdowns, Arcadia Group ...
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News briefs
Wolverine gets S&P upgrade
Standard & Poor’s has upgraded its outlook for Wolverine Worldwide to stable and confirmed its BB issuer credit, while raising the rating on its senior secured credit facility to BB+. This came after Wolverine repayed a $171 million, 364-day loan contracted because of the coronavirus pandemic and reported better-than-expected results ...
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News briefs
Moncler acquires full control of Stone Island
Moncler has purchased the remaining 30 percent stake of Stone Island, an Italian brand of casualwear, from Temasek for around €345 million. The transaction is expected to close by the end of March, following approval by the regulatory authorities and Moncler’s shareholders. The deal was first announced in December of ...
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News briefs
Wintersteiger signs deal with Head USA
Already working with Head Europe, Wintersteiger has become a supplier to Head USA, opening a showroom at the latter’s headquarters in Boulder, Colorado. According to its president, Jon Ruker, Head was seeking to “replicate” in Boulder the performance of Wintersteiger’s Scout machine at its Austrian race department, which “consistently produces ...
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News briefsSRAM buys Time Sport’s pedal business from Rossignol
Groupe Rossignol had already announced the disposal of the carbon frame and fork productio assets of Time Sport International, including its RTM Composite factory, to a French-American investment and management company, the Cardinal Cycling Group. Rossignol has now found a well-known buyer for its remaining bike pedal business. the ...
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News briefs
Adidas plans to resume dividends
Adidas’ executive board has decided a resumption of the company’s dividend payments, subject to approval by the supervisory board and at the annual general meeting of May 12. The says its decision reflects a positive outlook for the current financial year and follows a series of financing measures: it recently ...
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News briefs
Courir to open new warehouse in 2022
Courir, the international chain of sneaker shops previously owned by Groupe Go Sport, is planning to open a new 18,000-square-meter warehouse in Montierchaume, near Châteauroux in central France. According to a report in sport-guide.com, the facility will be ready in March 2022, and will be operated by ID Logistics. In ...
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News briefs
Rather Outdoors buys Zebco Brands
Rather Outdoors has announced that it has taken over Zebco Brands, a manufacturer of fishing rods, reels and accessories based in Tulsa, Oklahoma. Through this acquisition, Rather expects to take full advantage of the growing interest in fishing, particularly among young and new anglers, where Zebco is particularly strong. Another ...
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News briefsKuehne+Nagel buys a Chinese freight company
Kuehne+Nagel, the European logistics group registered in Luxembourg, has entered into a binding agreement to acquire a Chinese freight forwarder, Apex International Corporation. No financial details were released. Apex was founded in 2001 and has about 1,600 employees. It generates yearly revenues in excess of €1.9 billion. In 2020, the ...
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News briefs
Foot Locker’s capital spending will grow to $275m in 2021
Foot Locker’s board of directors has authorized capital investments of $275 million for this year, a big jump from the $155 million spent in 2020, when they were reduced to maintain liquidities in spite of the coronavirus pandemic. Foot Locker’ board has also decided to raise its quarterly dividend by ...
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News briefs
Therabody raises capital from celebrities
Therabody, the U.S.-based maker of the Theragun massage therapy gun and other therapeutic training aids, said it has drawn more financing after its revenues tripled in 2020 to an unspecified level, thanks in part to its expansion into more than 60 countries, with offices recently opened in London, Dublin and ...
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News briefs
Kinnevik’s Zalando shares go to its own shareholders
Kinnevik, the Swedish investment fund that has been supporting Zalando since 2010, helping it to go public in 2014, has decided to transfer its 21 percent interest in the big German-based e-tailer to its own shareholders, provided they approve the move at Kinnevik’s annual meeting on April 29. The Swedish ...
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News briefs
Asics invests in soccer scouting platform
Asics Ventures Corp., the investment subsidiary of Asics Corp., has invested in Dreamstock, the operator of a soccer scouting platform that matches football players with clubs. Dreamstock, based in Tokyo, was founded in July 2017. The digital company supports the youth generation (ages 14-18) by providing matching services with professional ...
