News briefs - Corporate and M&A – Page 117
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News briefs
Hardy & Greys, the fishing tackle company that goes back...
Hardy & Greys, the fishing tackle company that goes back to 1872, is being sold by its owner, the Harris & Sheldon Group, a family-owned private investment group in the U.K. Grant Thornton, as business adviser, is looking for a buyer. Harris & Sheldon is trying to sell off all ...
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News briefs
Northern Tool+Equipment, a mail-order and brick-and-mortar retailer based in Minnesota...
Northern Tool+Equipment, a mail-order and brick-and-mortar retailer based in Minnesota and owned by the Kotula family with some 80 stores, is raising its total annual sales to nearly $1.5 billion with the acquisition of The Sportsman's Guide and The Golf Warehouse. These two operations belong to Redcats USA, the American ...
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News briefs
Pon Holdings in the Netherlands has announced that it has...
Pon Holdings in the Netherlands has announced that it has acquired the Union brand of bicycles from the Dutch Bicycle Group (DBG). It is the fourth takeover in the bike sector for the Dutch conglomerate, which also owns Derby Cycle, Gazelle and Cervelo. Pon will only market the Union brand, ...
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News briefs
Oxbow, the surfwear brand of the Lafuma Group, has launched...
Oxbow, the surfwear brand of the Lafuma Group, has launched a restructuring plan that will involve the elimination of 38 jobs out of a total of 145 at its French head office. Oxbow's revenues were down by 16.4 percent to €53.5 million in the latest financial year, ended on Sept. ...
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News briefs
According to Reuters, Nike is in final negotiations to sell...
According to Reuters, Nike is in final negotiations to sell Cole Haan to Apax Partners for about $500 million, beating out the bids made by other equity firms. Jack Boys, former chief executive of Converse, would run Cole Haan to trigger a new phase of growth. According to other sources, ...
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News briefs
Powakaddy has reportedly been bought back by its former owner,...
Powakaddy has reportedly been bought back by its former owner, John de Graft-Johnson, and by the former owner of the Hill Billy brand, David Catford. Its electric golf trolleys will continue to be manufactured in the U.K. According to Sports Marketing Surveys, Powakaddy has a market share of 51 percent ...
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News briefs
Billabong International told shareholders at its annual meeting that the...
Billabong International told shareholders at its annual meeting that the company remains receptive to takeover offers from third parties. Company officials said they could not tell what led Texas Pacific Group to withdraw its takeover offer 12 days before the annual meeting in the course of the due diligence process. ...
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News briefs
A French label of surf-inspired clothing, Kanabeach, is looking for...
A French label of surf-inspired clothing, Kanabeach, is looking for a buyer at the request of a local court, which has extended the company's receivership until March 2013. One of its biggest assets is a network of 25 stores in urban locations. Its sales have plunged down to an annual ...
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News briefs
More companies besides Scott Sports Group and Patagonia (see related...
More companies besides Scott Sports Group and Patagonia (see related stories in this issue) are acquiring stakes in some of the suppliers of technology and services. Nike has taken a minority stake in a company that it has been a customer of for two years: Llamasoft, which develops supply chain ...
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News briefs
Li Ning is selling 25 percent direct stake in his...
Li Ning is selling 25 percent direct stake in his eponymous firm to Viva China Holdings, a company in which his family has a 56 percent stake, for HK$1.36 billion (€135.6m-$175.4), but the shares will technically remain inside the family. The sum will be paid by Viva China to buy ...
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News briefs
The Lafuma Group has revealed that it is in exclusive...
The Lafuma Group has revealed that it is in exclusive negotiations with Marwyn Management Partners, an investment firm which controls a wide range of companies in the leisure, technology and transportation sectors, to hand over Le Chameau, the French group's division that markets shoes and apparel for hunters. With its ...
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News briefs
Italy's Tecnica Group had already announced a big cut in...
Italy's Tecnica Group had already announced a big cut in its staff, eliminating 118 of the 353 jobs at the company's headquarters at Giavera del Montello, but in the end, technically, it will not lay off any of them. Following four months of negotiations with the unions, 72 employees will ...
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News briefs
The takeover process for the bankrupt MBT by one of...
The takeover process for the bankrupt MBT by one of its Asian distributors, Andy Chaw, has been stopped. The Swiss court in Winterthur, which is handling the case, has reportedly accepted a request by Karl Müller, founder of the company, to review his objections to the sale of the ...
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News briefs
Kästle has moved its head office from Wels to another...
Kästle has moved its head office from Wels to another location north of Salzburg, closer to its Austrian clients. It has taken up a space of 400 square meters in a former glass factory where other important brands such as Quiksilver, Diesel and Ugg have their offices and showrooms.
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News briefs
Coreupt, a French company specializing in freeride skis and accessories, is...
Coreupt, a French company specializing in freeride skis and accessories, is to be liquidated. Established in 2008 by Guerlain Chicherit, a French freeride champion, the brand expanded fast to reach annual sales of about €1.3 million with twelve employees. Unable to finance its growing business, Coreupt went into receivership in May ...
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News briefs
Sportamore, a Swedish online retailer specializing in sports products, has...
Sportamore, a Swedish online retailer specializing in sports products, has been investing in its infrastructure to cope with its expansion plans. Launched at the start of 2010, Sportamore reported sales of nearly 100 million Swedish crowns (€11.6m-$15.1m) the next year. The company has just upgraded its warehouse facility by moving ...
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News briefs
The Swedish golf distributor Pro Backup has merged with the...
The Swedish golf distributor Pro Backup has merged with the Danish golf distributor Lars Kjær & Co. The new company, called Sports Backup, will be one of the largest golf distributors in Scandinavia. For the 2013 golf season, Sports Backup will be responsible for the sale of products from Bridgestone ...
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News briefs
Grandvalira is to invest €6 million in infrastructures, ski slopes...
Grandvalira is to invest €6 million in infrastructures, ski slopes and innovation. The skiing resort, located in the Principality of Andorra, is the largest skiable area in southern Europe, with 205 km of slopes. The investments aim at increasing, in particular, the number of international visitors, mainly from Russia, the ...
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News briefs
Black Diamond Inc. has agreed to buy Pieps, an Austrian...
Black Diamond Inc. has agreed to buy Pieps, an Austrian brand of alpine safety equipment, at a price of €8.0 million in cash. The deal also calls for the American company to assume debts worth €2.1 million, and to make extra payments of up to €2.3 million if Pieps reaches ...
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News briefs
Holmenkol, the German manufacturer of ski wax and other product...
Holmenkol, the German manufacturer of ski wax and other product care items for sporting goods, has been acquired by the Eimermacher Group, which markets a wide range of products from cosmetics to medication for animals. After the last bad winter, Holmenkol had gone into receivership on July 22. Eimermacher, which ...
