News briefs - Corporate and M&A – Page 118
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News briefs
Pyua, a German brand of sportswear made of recycled and...
Pyua, a German brand of sportswear made of recycled and recyclable fabrics, has changed ownership. Its founder, Timo Perschke, who created the brand in 2008, has sold the brand name and the assets to Christian Benzing, an entrepreneur from Stuttgart, and his newly created company, Sportsman's Delight. Perschke will remain ...
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News briefs
Richemont has acquired Peter Millar from majority stakeholder Winona Capital...
Richemont has acquired Peter Millar from majority stakeholder Winona Capital Management, the U.S. private equity group that acquired a controlling stake in the company in April 2009. Richemont, headquartered in Geneva, already holds a collection of luxury brands including Alfred Dunhill, Cartier, Van Cleef & Arpels, Mont Blanc and others. ...
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News briefs
Wolverine Worldwide plans to offer $375 million worth of senior...
Wolverine Worldwide plans to offer $375 million worth of senior notes to be due in 2020. The proceeds from the offering will go toward the company's acquisition of the Performance + Lifestyle Group of Collective Brands; repaying and ending its existing revolving credit facility; repaying some of Collective's debts; and ...
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News briefs
Jarden Corporation took in about $487 million after fees and...
Jarden Corporation took in about $487 million after fees and expenses from its recent sale of new senior subordinated convertible notes, which are due in 2018. The initial issuance was for $450 million, but institutional investors fully exercised the option to buy another $50 million in convertible notes from Jarden. ...
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News briefs
The board of Nike has approved a new four-year, $8...
The board of Nike has approved a new four-year, $8 billion program to repurchase shares of the company's Class B common stock. This new program will start sometime during the second quarter the 2013 fiscal year, once the current $5 billion share repurchase program is completed. The stock buybacks will ...
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News briefs
Conte of Florence has signed an agreement to lease out...
Conte of Florence has signed an agreement to lease out 42 of its stores. The Italian brand, which celebrates its 60th anniversary this year, is undergoing a restructuring plan due to the difficult economic situation. After reducing its share capital by 50 percent last June, it is now closing 14 ...
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News briefs
Mectex has become part of Adler Group, the Italian-based multinational...
Mectex has become part of Adler Group, the Italian-based multinational run by Paolo Scudieri with 59 factories in 18 countries. Mectex, an Italian company that manufactures gripper-loom-woven, waterproof and breathable plasma-treated fabrics, widely used in sports, will continue to be located in Erba, near Como, Italy.
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News briefs
Genesco is said to be one of the companies that...
Genesco is said to be one of the companies that are interested in taking over Cole Haan from Nike. Other potential bidders are Texas Pacific Group, the equity investment firm that previously controlled Bally, and another institutional investor, Apax Partners, which wants to sell its stake in France's Groupe Royer. ...
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News briefs
The Hobie Cat Company, the producer of kayaks and sailboats...
The Hobie Cat Company, the producer of kayaks and sailboats based at Oceanside, California, has acquired Hobie Cat Europe, which is based in Toulon, France. Founded by Hobie Alter in 1968, the U.S. company was acquired by Coleman in 1975. In 1989, Coleman split the operation into two parts, one ...
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News briefs
Sanita Footwear is changing ownership and selling off its so-called...
Sanita Footwear is changing ownership and selling off its so-called trading division to concentrate on its Sanita brand of clogs and comfort shoes, which is performing particularly well in the U.S. The trading division of the Danish company comprises five company-owned footwear brands – Bundgaard, Trigger, Jaco, Sanilet and Ambre ...
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News briefs
Kesko Corporation of Finland issued a senior unsecured bond of...
Kesko Corporation of Finland issued a senior unsecured bond of €250 million for general corporate purposes, carrying a fixed annual interest rate of 2.75 percent and maturing on Sept. 11, 2018. The significantly oversubscribed bond issue was allocated to 87 investors. The ramp-up of the Russian Intersport operation, which Kesko ...
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News briefs
Jarden Corporation is going to issue $450 million in...
Jarden Corporation is going to issue $450 million in debt and buy back its own stock with up to $125 million of the proceeds. The debt will be offered, subject to market and other conditions, as senior subordinated convertible notes due in 2018 in a private offering to qualified institutional buyers. The ...
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News briefs
Giant officially announced a the Eurobike trade show that it...
Giant officially announced a the Eurobike trade show that it was going to build a new headquarters and R&D center in the Central Taiwan Science Park in Taichung City. Giant Global Group's president, Tony Lo, said that the company needed the new facilities for product expansion. Sales of mid- to ...
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News briefs
Dakine is getting new digs. The company will remain...
Dakine is getting new digs. The company will remain in Hood River, Oregon, but will move from downtown to a new building at the Waterfront Business Park. The 45,000-square-foot building is still under construction; Dakine will take up more than half of it when it moves in, expected next ...
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News briefs
The second-generation owners of Ivanhoe, a Swedish brand...
The second-generation owners of Ivanhoe, a Swedish brand of outdoor and golf apparel, have started to transfer responsibilities and ownership to the third generation of the Göthager family. Anna and Anders Göthager became the majority shareholders of Ivanhoe Support AB, a new entity that will deal with marketing, ...
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News briefs
Indian newspapers have reported that more than 150 retail franchisees...
Indian newspapers have reported that more than 150 retail franchisees running Reebok mono-brand stores in India held a virulent demonstration in New Delhi earlier this week. They vented their anger about the measures taken by the Adidas Group to alter its relationship with Reebok franchises, which should lead to a ...
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News briefs
A top executive of Cisalfa Sport denies persistent rumors in...
A top executive of Cisalfa Sport denies persistent rumors in Italy that the family of Vincenzo Mancini, the founder and former owner of the leading Italian sporting goods retailer, has agreed to buy back the controlling stake held in the company since 2006 by an Italian equity investment firm, Investitori ...
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News briefs
Some newspapers are reporting that Spyder Active Sports is up...
Some newspapers are reporting that Spyder Active Sports is up for sale by its owner, the private equity firm Apax Partners. Supposedly, Apax has enlisted Blackstone Group to look for a buyer, and hopes to sell the company for up to $150 million. Apax bought Spyder in 2004 for $100 ...
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News briefs
Callaway Golf has entered a privately negotiated exchange agreement under...
Callaway Golf has entered a privately negotiated exchange agreement under which it will issue $63,227,000 in aggregate principal amount of new 3.75 percent convertible senior notes due in 2019, and 5,866,821 shares of the company's common stock, with a par value $0.01 per share, in exchange for 982,361 shares of ...
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News briefs
Flow Sports has bought SIC, the stand-up paddle board brand...
Flow Sports has bought SIC, the stand-up paddle board brand whose name stands for Sandwich Islands Composites. Mark Raaphorst, who founded the brand in 2005, will stay on as designer and shaper. The move will allow SIC to go from being a custom-only board supplier to one whose products can ...