News briefs - Corporate and M&A – Page 128
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News briefs
Platou Sport, the only independent outdoor retail chain in Norway,...
Platou Sport, the only independent outdoor retail chain in Norway, has been bought out by its managers. In two separate transactions, Henrik Platou, whose grandfather established the company in Bergen, sold all his remaining shares in the two companies that own the six Platou stores (more in The Outdoor Industry ...
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News briefs
JJB Sports is going to hold a general meeting to...
JJB Sports is going to hold a general meeting to approve an Equity Incentive Plan that is designed to encourage the company's directors and senior managers to execute JJB's ongoing turnaround plan successfully. The plan would award Mike McTighe, Keith Jones, Dave Williams and David Adams, as well as a ...
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News briefs
Kesko has concluded its acquisition of 12 Intersport stores in...
Kesko has concluded its acquisition of 12 Intersport stores in Russia and plans to acquire 24 more by the end of this year. As planned, the Finnish retail conglomerate has set up a new Russian company in which it holds an 80 percent stake. The balance is owned by the ...
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News briefs
Canadian Tire has completed the acquisition of Forzani Group through...
Canadian Tire has completed the acquisition of Forzani Group through a subsidiary called FGL Acquisition, taking the company out of the Toronto stock exchange. It has also appointed a new management for FGL led by Michael Medline. The former chief executive of Forzani, Bob Sartor, is leaving, and its former ...
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News briefs
Collective Brands, the U.S. company that owns Saucony and many...
Collective Brands, the U.S. company that owns Saucony and many other brands and various retail operations, said it will review its strategic and financial alternatives, indicating that it may want to sell some of its assets. Combined with a statement about the closure of many stores, the announcement sent the ...
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News briefs
A U.S. company called Compass Diversified Holdings has agreed to...
A U.S. company called Compass Diversified Holdings has agreed to pay $257.5 million for a stake of 89.9 percent in the holding company of Camelbak, the leading supplier of portable hydration equipment for cyclists, hikers and other athletes. The price is based on an enterprise value of $245.0 million and ...
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News briefs
Bushnell Outdoor Products has bought Night Optics USA, a provider...
Bushnell Outdoor Products has bought Night Optics USA, a provider of night vision and thermal technologies based in Huntington Beach, California. Bushnell, which makes sport optics, premium eyewear and outdoor accessories, said that the acquisition would help enhance its product portfolio for the law enforcement, military and security markets. Terms ...
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News briefs
Descente has become the largest single shareholder of Musin Garment,...
Descente has become the largest single shareholder of Musin Garment, a longtime supplier of its products in Taiwan, which makes outdoor, golf and casual clothing. The Japanese company has bought a 15 percent stake in the publicly traded manufacturer for 600 million yen (€5.5m-$7.8m). It will consider raising this stake ...
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News briefs
Anta, the Chinese footwear brand, plans to invest in a...
Anta, the Chinese footwear brand, plans to invest in a new production facility for leather footwear in Shangqiu, a city in Henan province. The company will put more than $150 million toward the project. Shangqiu, which has a population of 7.5 million and is a central hub for several railway ...
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News briefs
Deckers Outdoor Corporation has entered into a new $200 million...
Deckers Outdoor Corporation has entered into a new $200 million secured revolving credit facility that contains a $50 million sublimit for the issuance of letters of credit and a $5 million sublimit for swingline loans. The company has the option to increase the maximum principal amount available under the credit ...
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News briefs
Jack Wolfskin has ambitious financial goals for this year. The...
Jack Wolfskin has ambitious financial goals for this year. The company is going back into the Canadian market and opening a new store in France (more in The Outdoor Industry Compass).
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News briefs
Sportmaster, the leading sporting goods retailer in Russia and in...
Sportmaster, the leading sporting goods retailer in Russia and in the rest of the former Soviet Union, and a major wholesaler in the territory, is said to be considering a flotation on the London Stock Exchange sometime in 2012, according to Reuters. Sportmaster could raise between $600 million and $700 ...
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News briefs
PPR has raised its stake in Puma from 71.6 percent...
PPR has raised its stake in Puma from 71.6 percent to 75.1 percent. Out of the new equity, 1.15 percent of the stock will still be held by Puma.
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News briefs
Icon Health & Fitness has bought Altra Footwear, a developer...
Icon Health & Fitness has bought Altra Footwear, a developer of minimalist shoes, for an undisclosed amount. Altra Footwear was founded in 2009 by runners, and claims to have created the first “zero-drop” footwear line, meaning that the heel is the same height as the toe. Most running shoes have ...
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News briefs
VF Corporation has sold $900 million senior unsecured notes in...
VF Corporation has sold $900 million senior unsecured notes in two parts, according to IFR, a Thomson Reuters service. Bank of America Merrill Lynch and JP Morgan Chase were the active bookrunning managers for the sale. According to the report, the issue for $400 million in notes, due Aug. 23, ...
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News briefs
Effective Aug. 1, Findos Investor has acquired Maier Sports, the...
Effective Aug. 1, Findos Investor has acquired Maier Sports, the German brand of outdoor and snow wear, along with Gonso, the company’s bike wear brand. Maier Sports was owned by the Maier family, led by Gerhard Maier as managing partner, who will seek retirement probably at the beginning of next ...
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News briefs
Skechers halved its inventory of toning shoes by selling 2...
Skechers halved its inventory of toning shoes by selling 2 million pairs of original Shape-up models at a $21 million loss. The shoes were predominantly sold to one big account. The company booked an additional charge of $4.4 million on the rest of the stock, comprising less than 2 million ...
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News briefs
The Acushnet Company is officially out of the Fortune Brands...
The Acushnet Company is officially out of the Fortune Brands family. The golf company has announced that its sale to a consortium led by Fila Korea and Mirae Asset Private Equity was completed on July 29. Acushnet, which owns the Titleist and FootJoy brands, will remain a standalone company and ...
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News briefs
TaylorMade-Adidas Golf is looking to Asia to aid its plans...
TaylorMade-Adidas Golf is looking to Asia to aid its plans to expand its apparel and footwear business from the current level of $400 million to $700 million in four years. MSNBC.com has reported that John Kawaja, executive vice president for TaylorMade-Adidas Golf, said that Japan in particular would be a ...
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News briefs
Point6, an American manufacturer of merino wool socks, has announced...
Point6, an American manufacturer of merino wool socks, has announced that it is moving all production from China to the U.S. The company said the move will allow the company to have better control over product development and the quality of the product, while improving inventory management (more in The ...
