News briefs - Corporate and M&A – Page 5
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News briefsEastside golf secures $3.4M funding
The trend of micro-brands making a mark in the golf industry continues, with Eastside Golf being the latest player to secure funding. The lifestyle golf brand announced on Thursday that it successfully closed a seed round led by EP Golf Ventures, a partnership between PGA of America and venture capital ...
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News briefsPE firm combines three pickleball brands
Three American pickleball brands have fused into one, with the backing of a private equity firm called Thirty-5 Capital. Specifically, Paddletek, ProXR Pickleball and Boundless Pickleball will now operate under the single name United Pickleball Paddles (UPP), a subsidiary of Thirty-5’s United Pickleball Properties. “Combining multiple respected brands under one ...
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News briefsJD Sports completes acquisition of MIG
JD Sports Fashion Plc has announced on Jan. 18 the completion of its acquisition of the 40 percent minority stake in Kraków-based Marketing Investment Group S.A. (MIG), making JD the 100 percent sole owner. The acquisition has been completed following receipt of the European Commission’s decision declaring the transaction compatible ...
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News briefsAsics Italia moves to new HQ
Japanese sportswear firm Asics has inaugurated its new Italian headquarters at Corso Alcide De Gasperi 57, in the Piedmontese city of Cuneo. Its previous Italian headquarters were located at Palazzo di Madonna dell’Olmo, also in Cuneo. The new two-floor space is designed to encourage sociality, explained the company. There are ...
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News briefsFrasers may acquire former Dutch JD-owned stores
The Netherlands-based Sports Unlimited Retail, owned by JD Sports and the parent group of Perry Sport, Aktiesport and Sprinter Netherlands, was declared bankrupt in December. At the time, around 50 stores were owned by the company. According to a new report by the Dutch media company RTL Z, up ...
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News briefsGolfForever secures $10 million in funding
US company GolfForever has developed a product allowing golfers of all skill levels to train at home. Engineered by experts in both technology and fitness, the company now announced the successful closure of a $10 million Series A funding round. Two high-profile golfers, South Korean PGA Tour winner Tom Kim ...
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News briefsColumbia appoints former Nike brand President to Board
Columbia Sportswear announced that its Board of Directors appointed Charles Denson as Director and member of its Audit Committee. Denson is already Chairman of the Board of Directors of Funko and has earlier served as President and CEO of Anini Vista Advisors, an advisory and consulting firm. Denson is a ...
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News briefsXponential updates FY23 operating highlights
US-based Xponential Fitness, Inc., a global franchisor of boutique fitness brands, which generated $1.4 billion in systemwide sales and 16 percent same-store sales growth in 2023, has updated its FY23 operating highlights. This includes an increase in the number of studios to 3,062 and total licenses to 6,255 across ...
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News briefsAmer Sports files registration statement for planned IPO in the US
Finnish Amer Sports, Inc., which includes the Arc’teryx, Salomon, Wilson, Peak Performance and Atomic brands, among others, announced on Jan. 4, 2024, that it has filed a registration statement on Form F-1 with the U.S. Securities and Exchange Commission for a proposed initial public offering of its common stock. The ...
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News briefsAdidas to set up GCC in East India
According to reports in Indian media, Adidas is setting up its first and only global capacity center (GCC) in Asia outside China in the eastern Indian city of Chennai. The location will enable the company to focus on key processes within the organization. Adidas has a headquarters in Gurugram, but ...
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News briefsSkechers opens distribution hub in Mumbai
Skechers opened a national distribution center near Mumbai, India. The 55,700-sqm facility is located in the Lodha Industrial and Logistics Park in Kalyan and has the capacity to dispatch up to 60,000 pairs of shoes daily. The site represents the initial phase of a strategic partnership to develop a 102,000-sqm ...
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News briefsSelfridges seeks debt financing after Signa insolvencies
Following the wave of insolvencies that have hit the Signa Group, British department store chain Selfridges Group is reportedly in talks with the Thailand-based Central Group to negotiate future financing to settle outstanding debts. Signa bought Selfridges together with Central Group last year for £4 billion. Central became the majority ...
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News briefsSigna Prime Selection files for insolvency
Signa Prime Selection AG, the Swiss-based luxury real estate company of René Benko’s Signa Group, has filed for insolvency proceedings in self-administration with the Commercial Court of Vienna, according to a press release issued by the group on Dec. 28. “[…] The Executive Board has also applied for the adoption ...
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News briefsCoDi receives $75.2m through private placement
Compass Diversified (CoDi), the Connecticut-based owner PrimaLoft, Boa Technology, 5.11 and Velocity Outdoor, completed a $75.2 million private placement offering of approximately 3.6 million of its common shares to an Allspring Global Investments mutual fund for $21.18 per share. “We are thrilled to receive this substantial investment from Allspring,” commented ...
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News briefsEyewear start-up Out Of raises over €7m in crowdfunding
Out Of, the Italian-based sports eyewear start-up, has raised a total of €7.6 million from approximately 580 investors through a 30-day crowdfunding campaign on Mamacrowd earlier this autumn. According to Italian media, it was the largest ever crowdfunding campaign in Italy, close to the legal €8 million upper limit. New ...
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News briefsVF Corp. operations impacted by cyber attack
The Vans, the North Face, and Timberland parent VF Corp. disclosed its Dec. 13 discovery of cyber attack breach on its systems in a public filing. The group, which has initiated an incident investigation with experts and been forced to shut down some systems, confirmed that that cyber attack has ...
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News briefsXtep purchases Wolverine’s stake in joint venture
Xtep Intl. is paying Wolverine Worldwide $61 million for its share of a joint venture that the two companies established in 2019 for the distribution of the Saucony and Merrell brands in Greater China, Hong Kong and Macau. Additionally, due to the early success and profitability of the Saucony brand ...
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News briefsFarfetch acquired by Coupang
Luxury fashion online retailer Farfetch has been acquired by South Korean e-commerce company Coupang for an undisclosed sum. Coupang has already founded a company called Athena Topco LP together with the financial firm Greenoaks Capital Partners LLC for the purpose of the takeover. The deal reportedly provides the ailing luxury ...
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News briefsAlibaba invests another $630m in Lazada
China’s Alibaba Group Holding has invested an additional $634 million into Singapore-based e-commerce subsidiary Lazada to drive additional growth and compete against TikTok and others in the Southeast Asian market. TikTok, which is owned by Chinese technology group ByteDance, has announced that it will acquire a 75 percent stake in ...
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News briefsNew US ski and snowboard goggle company launched
ArgentaWorks, a Park City, Utah-based ski and snowboard goggle company, announced its official launch on Dec. 5. Source: ArgentaWorks Tuscarora Among ArgentaWorks’ first offerings is the Tuscarora, the company’s flagship goggle. Each pair comes with two interchangeable lenses that offer full spectrum UV protection, anti-fog and anti-scratch ...
