News briefs - Corporate and M&A – Page 98
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News briefs
Shimano has opened a new plant in the Philippines. The...
Shimano has opened a new plant in the Philippines. The facility, which reportedly represents an investment of JPY3.5 billion (around €30 million), is located at the First Philippine Industrial Park (FPIP) in Santo Tomas, Batangas. The investment is a 70-30 joint venture of Shimano with the First Philippine Holdings Corporation ...
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News briefs
The staff of Campagnolo is in turmoil following the management's...
The staff of Campagnolo is in turmoil following the management's announcement that the company will soon undergo substantial reorganization. The process will cause the lay-off of 68 employees, mainly in the manufacturing areas, out of the 399 at the company's main facility in Vicenza, in Italy's northeast. It will also ...
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News briefs
Shareholders of Alliant Techsystems gave overwhelming approval to a proposed...
Shareholders of Alliant Techsystems gave overwhelming approval to a proposed merger with Orbital Sciences, paving the way for the spin-off of Vista Outdoor, the new company that will run Bushnell, Bollé, Cébé, Serengeti and other brands of sports eyewear, firearms and ammunition. Vista Outdoor, which will go public on Feb. ...
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News briefs
Thule Group has inaugurated a big new distribution center in...
Thule Group has inaugurated a big new distribution center in Poland to service customers in Central and Eastern Europe as well as Russia and Scandinavia. The new center, which has involved investments of 65 million Swedish kronor (€6.9m-$7.8m) is located at Huta, in western Poland, where the group has operated ...
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News briefs
According to reports in Boardsports Source, Kelly Slater has made...
According to reports in Boardsports Source, Kelly Slater has made a formal offer to acquire a majority stake in Firewire. The recent move by the American surfer and 11-time world champion appears to be related to his interest in producing eco-friendly surfboards, as stabmag.com quoted him saying, it is time ...
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News briefs
Diffusion Sport, one of the leading sporting goods industry publications,...
Diffusion Sport, one of the leading sporting goods industry publications, has been integrated into Grupo Peldaño, a 30-year-old Spanish publishing group with seven other trade magazines in tourism, caravanning and other sectors. Manuel Freixas, the 63-year-old entrepreneur who founded Diffusion Sport in 1982, will continue to run it for at ...
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News briefs
Sports Direct International has placed its USC chain of young...
Sports Direct International has placed its USC chain of young fashion stores into administration, a form of Chapter 11 bankruptcy. It has also placed it under the control of Republic, another British fashion chain in its portfolio. Reports indicate that 28 of the 90 USC stores may be closed down. ...
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News briefs
Canada Goose has acquired the assets of Grand Harbour Clothing,...
Canada Goose has acquired the assets of Grand Harbour Clothing, one of its largest outerwear factories. Based in Scarborough, Ontario, Grand Harbour Clothing has long been a key contract manufacturer for Canada Goose, producing a significant portion of the brand's outerwear. With the acquisition of the 45,000 square-foot facility, Canada ...
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News briefs
Safilo has decided to locate its global sports & outdoor...
Safilo has decided to locate its global sports & outdoor division in the new Pacific Coast Design Center in Portland, Oregon. The site will also serve as the head office of Smith Sports Optics for product development, marketing, sales and e-commerce. Chatham Baker and Drew Chilson will serve as creative ...
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News briefs
Vista Outdoor, the sporting goods spin-off from Alliant Techsystems that...
Vista Outdoor, the sporting goods spin-off from Alliant Techsystems that owns Bushnell, Bollé and a raft of other brands, mostly in the firearms segment, is evaluating several merger and acquisition opportunities to diversify its product portfolio in areas such as camping, cycling, fishing, golf, snow sports, trail sports and water ...
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News briefs
Garmin has announced it is acquiring iKubu, a privately-owned designer...
Garmin has announced it is acquiring iKubu, a privately-owned designer of computer vision and radar systems for the cycling market based in South Africa. The financial terms of the acquisition have not been released. iKubu is working on the development of a backpack unit that tells cyclists the speed and ...
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News briefs
The Recreation & Leisure segment of Dorel Industries has changed...
The Recreation & Leisure segment of Dorel Industries has changed its name to Dorel Sports and made another acquisition in Latin America. After the takeover of Caloi in Brazil, the Canadian parent company of Cannondale, GT, Schwinn, Sugoi and other bike brands is taking over the assets of Intercycles, a ...
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News briefs
The Saban Brands division of Saban Capital Group has acquired...
The Saban Brands division of Saban Capital Group has acquired a majority stake in Mambo, the 30-year-old Australian surf-inspired fashion brand. Angus Kingsmill will remain managing director of Mambo, with the task of pushing its international growth. Saban has taken over control of Mambo from Equity & Capital Finance of ...
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News briefs
Lotto Sport Italia and Stonefly, which share some managers and...
Lotto Sport Italia and Stonefly, which share some managers and shareholders, are reportedly studying a possible alliance at the administrative and logistic levels. The super-active Andrea Tomat runs both companies already. A spokesperson says the management has no comments at this stage.
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News briefs
Amer Sports has completed the repurchase of 819,171 of its...
Amer Sports has completed the repurchase of 819,171 of its own shares at an average price per share of €15.49, a process that began on Aug. 15. As a result, the company now holds a total of 1,417,429 treasury shares representing about 1.20% of the total number of outstanding shares ...
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News briefs
Mike Ashley, who owns 57 percent of Sports Direct International,...
Mike Ashley, who owns 57 percent of Sports Direct International, reportedly granted the company a £40 million (€51.0m-$62.2m) loan in October to help finance its purchases for the holiday season, charging normal lending rates. SDI could have borrowed the money from a bank, but the loan reportedly allowed Ashley to ...
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News briefs
Kering has been looking since the beginning of this year...
Kering has been looking since the beginning of this year for investors who may be interested in taking over its 86 percent stake in Puma, says the Bloomberg news agency. Investment funds in Asia, Qatar and other parts of the Middle East were reportedly approached, but no takeover negotiations have ...
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News briefs
Noël, the French footwear company that has been a licensee...
Noël, the French footwear company that has been a licensee of Umbro for many years, was placed in receivership by a court in Rennes on Dec. 8, with until June 8 to present a recapitalization plan. The company has been unable to conclude a satisfactory agreement for the transfer of ...
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News briefs
Mitteldeutsche Fahrradwerke (Mifa) has a new owner. All the assets...
Mitteldeutsche Fahrradwerke (Mifa) has a new owner. All the assets of the German bike maker have been acquired, by the Von Nathusius family, the sole shareholder of German auto parts supplier IFA Rotorion-Holding. Detailed terms of the deal were not disclosed but have guarantees from the state of Saxony-Anhalt. Mifa's ...
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News briefs
YKK, the world's largest manufacturer of zippers, is reportedly planning...
YKK, the world's largest manufacturer of zippers, is reportedly planning to invest $88 million in its Vietnamese factory to raise its annual production by 30 percent to 10 billion units by the end of 2016 and to double it by 2017. The additional capacity will become available by November 2015 ...
