News briefs - Corporate and M&A – Page 49
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News briefs
Ski Lacroix’ parent is placed in receivership
Idealp Sport, a French skiwear company based in Albertville, has been placed in receivership (“procédure de sauvegarde” under French law) by the Chambéry commercial court, as reported by sport-guide.com. The Henri Duvillard brand, which Idealp sold to Amateis in December, is not involved in the procedure. The Degré 7 brand, ...
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News briefs
Tecnica partners with a local innovation hub for its digitalization
Tecnica Group has signed a new partnership agreement with H-Farm, an innovation hub located in Ca’ Tron, near Venice, that combines investment, business consulting and digitally-enhanced educational programs. The partnership calls for the launch of new digital activities by Tecnica’s employees and the development of new courses aimed at training ...
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News briefs
Decathlon, Lululemon and Puma rank high as good places to work
Decathlon, Lululemon and Puma scored high in Glassdoor’s latest annual Employees’ Choice Awards for the best places to work in certain countries. Lululemon has come in seventh place in Canada and eighth place in the U.S. Decathlon came in sixth place in France and Puma in third place in Germany. ...
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News briefs
JD may want to buy Topshop in partnership with ABG
JD Sports Fashion is partnering with the U.S.-based Authentic Brands Group (ABG) in a possible bid for Topshop, the big U.K.-based chain of fashion stores, which is regarded as the most important asset of the bankrupt Arcadia Group, according to Sky News. Other bidders for this and other assets of ...
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News briefs
Plans for a large casual apparel manufacturing hub in China
A special event – the first “Guiping China International Cultural Tourism and Casual Sportswear Festival” – was organized at Mule Town in Guiping, in China’s Guangxi region, on Jan. 1, to mark the start of the development of the Guiping Textile and Garment Industrial Park. The industrial development involves 11 ...
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News briefs
Thuasne acquires Knit-Rite and its Therafirm division
Thuasne, the French specialist in medical devices, has announced the acquisition of Knit-Rite, a U.S. company specialized in medical textiles, and its Therafirm division, dedicated to compression. Founded in 1847, Thuasne is a family-owned business. The company develops and manufactures medical devises and health solutions in the fields of orthopedics, ...
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News briefs
Polygiene's acquisition of Addmaster is approved
The shareholders of Polygiene, the Swedish supplier of anti-viral solutions, have accepted a proposal to issue new shares to help finance the acquisition of Addmaster Holdings, its very profitable U.K.-based supplier of anti-microbial additives for hard surfaces, for SEK 374 million (€36.7m-$44.7m) in cash and shares. Polygiene, whose sales of ...
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News briefs
Garmin buys GEOS Worldwide
Garmin has acquired GEOS Worldwide, a company based in Montgomery, Texas that provides emergency monitoring and incident response services including search and rescue services for skiers, outdoor adventurers and boaters. The terms of the asset deal were not disclosed. Garmin plans a more extensive integration between its own capabilities and ...
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News briefs
361° wants to redeem some of its debt
Standard & Poor’s warned a few months ago that 361 Degrees may have trouble refinancing its high-yield notes when they mature, citing difficult refinancing conditions for privately owned Chinese companies. Nonetheless, the Chinese sports apparel and footwear brand has offered to buy back $135 million worth of notes by Jan. ...
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News briefs
JD Sports Fashion acquires Wellgosh
JD Sports Fashion has reportedly acquired Wellgosh, an independent menswear retailer based in Leicester, for an undisclosed sum. The information was first reported by Drapers. Wellgosh, a family-run business, was founded by Peter Turner around 30 years ago. The company started operations with a small store in Leicester’s Silver Arcade ...
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News briefs
Another investment in fashion by Ashley
The difficult economic situation, which is particularly acute in the fashion sector, has probably led the acquisitive Frasers Group to snap up Psyche, a British fashion retailer that offers about 200 high-end brands, such as Barbour and Boss, along with such heritage brands as Champion. The purchase price has not ...
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News briefs
Nautilus changes year-end to March 31
The board of directors of Nautilus has decided to change the end of the company’s 12-month fiscal year from Dec. 31 to March 31. It justified the decision with the fact that the primary season for fitness equipment deliveries runs from October to March. Furthermore, its new fiscal year is ...
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News briefs
Slinger Bag is worth $24.2m over the counter
Slinger Bag, the U.S.-based start-up that is selling the innovative tennis ball launcher by the same name, started trading on a special over-the-counter stock market on Dec. 24, reaching a market capitalization of $24.2 million. It has moved up from the OTC Pink exchange to the OTCQB Venture Market, reserved ...
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News briefs
Shareholders get more time to vote on Dorel going private
Dorel Industries has postponed an extraordinary shareholders meeting for a vote on the company’s sale to Cerberus Capital Management, granting some more time to consider the terms and conditions of the deal. The meeting will take place on Feb. 16 instead of Jan. 12. A special committee consisting of six ...
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News briefsVF completes the acquisition of Supreme
VF Corp. reports that it has completed its previously announced takeover of Supreme®, the iconic American streetwear brand, for an aggregate base purchase price of $2.1 billion. The final price will be subject to customary adjustments for cash, indebtedness, working capital and transaction expenses. VF expects the brand to ...
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News briefs
Under Armour completes the sale of MyFitnessPal
Under Armour has announced that it has completed the sale of the MyFitnessPal platform to Francisco Partners, a global investment firm specializing in technology businesses and headquartered in San Francisco. As previously announced by Under Armour in a news release on Oct. 30, the sale has a transaction value of ...
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News briefs
Dubai-based GMG Group acquires Royal Sporting House
Gulf Marketing Group (GMG) has acquired Royal Sporting House from the Al-Futtaim Group. The financial details of the deal have not been disclosed. GMG Sports, one of GMG’s divisions, is described as the largest sports retailer and distributor in the Middle East, with more than 200 stores across the Gulf ...
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News briefs
Head to set up a subsidiary in Norway
Head Sport has decided to handle its own distribution in Norway, establishing a foothold of its own in Oslo on Jan. 1, 2021. The switch is occasioned by the bankruptcy in February of Gresvig, which has been Head’s Norwegian distributor for 20 years. The brand will be taking advantage of ...
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News briefs
Major burglary at Specialized headquarters
The headquarters of Specialized Bicycle Components in Morgan Hill, California, was hit by a daytime break-in and robbery on Sunday, Dec. 13. According to reports in The Mercury News, the thieves stole 18 high-value bicycles worth more than $160,000 in total. Police officers were called at about 4:35 pm by ...
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News briefsKlarna enters partnership with Verifone
Klarna, the Swedish supplier of ”buy now, pay later” online payment solutions, has entered a partnership with Verifone, a California-based provider of hardware products for payment processing, that will make Klarna available to millions of Verifone devices in the U.S. and Europe. The ongoing Covid-19 pandemic has impacted shopping behaviors ...
