News briefs - Corporate and M&A – Page 84
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News briefs
Creditors have given Performance Sports Group (PSG), parent company of...
Creditors have given Performance Sports Group (PSG), parent company of Bauer and other brands, an extension from Oct. 5 to Oct. 28 to file its financial statements for the financial year ended May 31, pending an internal investigation of its accounts and those being conducted by U.S. and Canadian regulatory ...
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News briefs
Wolverine Worldwide will invest $1 or $2 million to expand...
Wolverine Worldwide will invest $1 or $2 million to expand its manufacturing plant in Grand Rapids, Michigan, adding 16,000 square feet of space and about two dozen new jobs by early next year. It will the first expansion in 70 years for the facility, which makes mainly shoes and boots ...
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News briefs
Wolverine Worldwide announced on Aug. 16 that it was...
Wolverine Worldwide announced on Aug. 16 that it was going to offer $250 million worth of senior notes to fund the redemption of its outstanding senior notes due 2020, which carry annual interest of 6.125 percent. The new notes have been priced with an interest rate of 5.000 percent, due ...
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News briefs
Adidas has announced it will open its first Speedfactory for...
Adidas has announced it will open its first Speedfactory for the U.S. market in the Atlanta, Georgia area in 2017. The purpose of the new highly automated shoe factory is to allow the sporting goods giant to create products faster and closer to its consumers in the U.S., with more ...
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News briefs
Nike has announced the acquisition of Virgin Mega, a tech...
Nike has announced the acquisition of Virgin Mega, a tech start-up that is part of Richard Branson's Virgin Group. The terms of the transaction were not disclosed. The acquisition is meant to help Nike launch a new digital studio based in New York City, which will focus on innovative consumer ...
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News briefs
Skullcandy announced yesterdat that its board of directors had accepted...
Skullcandy announced yesterdat that its board of directors had accepted to negotiate a revised takeover offer at $6.35 a share by Mill Road Capital Management that values the American headphone producer at about $196 million. Meanwhile, another company, Incipio, extended an offer at $6.10 share for another two weeks. Incipio ...
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News briefs
Compass Diversified Holding (Codi) has announced it has raised around...
Compass Diversified Holding (Codi) has announced it has raised around $63 million in total net proceeds following the sale of 3.5 million shares in Fox Factory Holding Corp., a maker of high-performance suspension systems for mountain bikes and off-road vehicles, in a secondary offering that also involves other shareholders. BofA ...
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News briefs
Mifa has been granted a €3 million subsidy from the...
Mifa has been granted a €3 million subsidy from the state of Saxony-Anhalt in Germany for the construction of a new bicycle factory in Sangerhausen. The company will invest a total of around €20 million in the new facility, whose construction is expected to be completed by the end of ...
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News briefs
To cope with its strong growth, Erima has bought an...
To cope with its strong growth, Erima has bought an additional 12,000-square-meter parcel of land at Kirchentellinsfurt to accommodate a new logistic center that should be opened toward the middle of 2017. It will be added to the adjoining surface of 12,000 m² where its new headquarters will be built ...
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News briefs
K- Swiss Global Brands is planning to relocate its global...
K- Swiss Global Brands is planning to relocate its global headquarters from Westlake Village, California to the Pac Mutual Building in downtown Los Angeles by Jan. 1, 2017. The new facility will house global operations for K-Swiss and the sister brands Supra, Palladium and Otz Shoes, as well as operations ...
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News briefs
Wolverine Worldwide's board of directors has authorized a new stock...
Wolverine Worldwide's board of directors has authorized a new stock repurchase program for up to $300 million, replacing the balance of a program it had approved in 2014. The company will also issue 10-year bonds with a face value of $250 million that will help redeem a series of outstanding ...
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News briefs
Sports Direct International said it will commence a buyback program...
Sports Direct International said it will commence a buyback program for up to 29,923,243 shares, representing about 5 percent of its share capital, for an aggregate maximum outlay of £89,769,729 (€106,604,549-$118,030,796). Citigroup Global Markets will undertake the buyback in behalf of SDI until the annual general meeting of Sept. 7, ...
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News briefs
Following Nike's good results for the financial year ended May...
Following Nike's good results for the financial year ended May 31, Mark Parker, the chief executive, got a $33.5 million award as part of an incentive plan announced last year, which is intended to keep him at the company through 2020, when it is supposed to reach a turnover of ...
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News briefs
Reporting a drop in Oakley's sales of sunglasses in North...
Reporting a drop in Oakley's sales of sunglasses in North America, due to poor sales in the sporting goods channel, Luxottica says it plans to centralize all of Oakley's marketing functions at its global headquarters in Milan. It will move Oakley's U.S. wholesale operations to its New York office and ...
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News briefs
Peak Sports Products of China may be delisted if a...
Peak Sports Products of China may be delisted if a bid for 38.81 percent of its shares by Xu's Sport Co. is accepted. The offer values Peak at 6,302 million Hong Kong dollars (€733.7m-$812.5m), a premium of 35 percent over the last closing price or nearly twice its annual turnover. ...
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News briefs
DyStar is setting up a new Global Innovation Center at...
DyStar is setting up a new Global Innovation Center at its factory in Nanjing, China. The 3,000-square-meter facility will include state-of-the-art laboratories for research & development, process technology development and the synthesis and finish of dyes and chemicals for its textile and industrial segments. The new facility will also house ...
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News briefs
Hi-Tec Sports has denied a report in OCC Outdoor that...
Hi-Tec Sports has denied a report in OCC Outdoor that a deal was struck for the Dutch-based footwear company's acquisition by Cherokee, a U.S. clothing and licensing group. Hi-Tec belongs to its founder, Frank van Wezel, after he took the company private again in 2000. Hi-Tec's chief executive and Frank ...
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News briefs
Billabong International has agreed to sell Sector 9, its San...
Billabong International has agreed to sell Sector 9, its San Diego-based skate hardware brand, for $12 million to an affiliate of Bravo Sports, which is part of Transom Capital's portfolio. Neil Fiske, Billabong's chief executive, said in a statement that the company's priority was to lift the performance of its ...
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News briefs
The management and the administrator of the McGregor group said...
The management and the administrator of the McGregor group said that they filed for bankruptcy at a court in Amsterdam on June 27 for eleven out of more than 50 entities belonging to the Dutch owner of Gaastra, the nautical brand. The eleven entities include Gaastra International Sportswear, Gaastra International ...
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News briefs
VF Corp. has sold its Contemporary Brands unit to Delta...
VF Corp. has sold its Contemporary Brands unit to Delta Galil Industries, an Israel-based supplier of branded and private label products, for $130 million. The division had an operating margin of 1.8 percent on sales of $344 million in 2015. The brands being sold are Seven for All Mankind, Ella ...
