News briefs - Corporate and M&A – Page 65
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News briefs
Sports Direct's warehouse in Wigan, Greater Manchester, will close on...
Sports Direct's warehouse in Wigan, Greater Manchester, will close on June 13, according to reports by the Press Association, causing the loss of around 300 jobs. The decision is believed to be linked to the expiration of a lease. The employees in the Wigan facility mostly pack goods for national ...
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News briefs
Vibram is celebrating the 10th anniversary of the Vibram Technological...
Vibram is celebrating the 10th anniversary of the Vibram Technological Center (VTC) in Guangzhou, China. The facility is an innovation hub where the Italian brand studies innovative compounds and technologies and creates prototypes of new products prior to launching them on the market. The VTC staff operates in close synergy ...
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News briefs
Rapala VMC Corp. said it will redeem a hybrid bond...
Rapala VMC Corp. said it will redeem a hybrid bond of €25 million issued on May 31, 2017, which is not convertible. It has also signed new bilateral, unsecured financing agreements for a total nominal amount of €51 million with Nordea Bank and OP Corporate Bank, with covenants based on ...
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News briefs
As part of its ongoing “creating the new” program, the...
As part of its ongoing “creating the new” program, the Adidas Group has completed the final building, called Arena, at its “World of Sports” headquarters in Herzogenaurach, Germany. Resembling a football stadium suspended in the air, the Arena will provide about 2,000 employees with 52,000 square meters of office space ...
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News briefs
According to the Evening Standard, Nike will be moving its...
According to the Evening Standard, Nike will be moving its head office for the U.K. to more spacious quarters. Currently occupying 3,252 square meters on Wardour Street in London's Soho neighborhood – near its flagship store on Oxford Street – the company has now leased more than 5,574 square meters ...
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News briefs
Shimano has opened a sort of testing ground for consumers...
Shimano has opened a sort of testing ground for consumers in Valkenburg, in the Limburg province of the Netherlands. The so-called Shimano Experience Centre offers a fishing lake, a 100-room hotel, a fitness center, a product showcase, conference rooms and a food court. It is open to the public seven ...
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News briefs
The takeover of Amer Sports by the Mascot Bidco consortium...
The takeover of Amer Sports by the Mascot Bidco consortium headed up by Anta Sports Products is making progress. Mascot Bidco has struck a seven-year inter-company financing agreement for €1,236 million involving a term loan of about €921 million for the refinancing of existing debts and a revolving credit facility ...
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News briefs
Descente, the Japanese sportswear company, has fended off a hostile...
Descente, the Japanese sportswear company, has fended off a hostile takeover from its largest shareholder, the Japanese conglomerate Itochu. As per a new power-sharing agreement, Descente's board of directors will be reconstituted, with Descente and Itochu each appointing two directors from within their ranks and confirming two independent directors from ...
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News briefs
Hype Sports Innovation, the sports-industry incubator, is launching Hype Capital,...
Hype Sports Innovation, the sports-industry incubator, is launching Hype Capital, a $75 million investment fund for sports-industry “unicorns,” or start-ups valued at over $1 billion, especially those with a focus on artificial intelligence, virtual reality and performance analytics. Two veterans of Adidas are taking part in the project. One is ...
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News briefs
Garmin has completed the acquisition of Tacx Onroerend en Roerend...
Garmin has completed the acquisition of Tacx Onroerend en Roerend Goed. The Dutch company develops and makes indoor bike training software and applications as well as indoor bike trainers, tools and accessories.
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News briefs
Lacoste has announced a plan to expand its current logistics...
Lacoste has announced a plan to expand its current logistics center in Troyes, in north-central France, to make it its future European logistics hub. A new building, called NEW – the acronym for New European Warehouse – will bring the area of the logistics platform up from the current 18,000 ...
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News briefs
Eurazeo has sold its entire remaining stake of 4.8 percent...
Eurazeo has sold its entire remaining stake of 4.8 percent in Moncler, making a major capital gain with a total price of $445 million for the shares. It had invested €950 million to acquire a 45 percent stake in the Italian company in 2011, prior to its public offering. Meanwhile, ...
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News briefs
Amer Sports has announced the sale of Mavic, the brand...
Amer Sports has announced the sale of Mavic, the brand of bicycle components inherited from Salomon, to an American equity company, Regent. The price being paid for Mavic, which represented only about 3 percent of the group's sales, was not disclosed. There was no comment by the group about the ...
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News briefs
Mike Ashley is doing whatever he can to call all...
Mike Ashley is doing whatever he can to call all the shots at Debenhams, the struggling British department store chain in which Sports Direct International holds a 30 percent stake. He has pledged to relinquish his position as chief executive of SDI and to provide Debenhams with an interest-free loan ...
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News briefs
The insatiable Mike Ashley has made an indicative takeover offer...
The insatiable Mike Ashley has made an indicative takeover offer for LK Bennett, according to the Financial Times. This major U.S.-based shoe and apparel retail chain, which is positioned in the upper-middle segment of the market, recently filed for administration, the British equivalent of bankruptcy protection. Acting through Sports Direct ...
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News briefs
Tecnica Group is a winner of a Leonardo Italian Quality...
Tecnica Group is a winner of a Leonardo Italian Quality Prize 2018. The award honors companies for the quality of their products as well as their potential in terms of international and commercial prospects. The Quality Prize and the other Leonardo Prizes are presented every year by the Leonardo Committee ...
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News briefs
JD Sports is among the companies targeted by The Investment...
JD Sports is among the companies targeted by The Investment Association, the trade body that represents U.K. investment managers, for failing to have enough women on their boards. The Investment Association and the Hampton-Alexander Review sent a letter to 69 of the FTSE 350 companies, asking them to outline what ...
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News briefs
Andy Murray has taken a stake in Castore, the British...
Andy Murray has taken a stake in Castore, the British premium sports and casual menswear brand. The company did not unveil the financial details of Murray's investment. Meanwhile, the 31-year-old tennis player is also becoming the brand's global ambassador. The financial details of the sponsorship deal were not revealed either, ...
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News briefs
Skechers India is transitioning to a wholly-owned subsidiary of Skechers...
Skechers India is transitioning to a wholly-owned subsidiary of Skechers USA following the purchase by Skechers USA of a 49 percent stake in its Indian joint venture from Future Group. The financial details of the transaction have not been disclosed. This development is meant to accelerate expansion and to build ...
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News briefs
Skechers reports the opening of its 3,000th store. With a...
Skechers reports the opening of its 3,000th store. With a surface of 3,000 square meters, it is its largest mono-brand store in the world. It is located in the Chinese city of Shenyang. The store has an entertainment area for children and a large assortment of branded clothing to complement ...
