News briefs - Corporate and M&A – Page 93
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News briefs
Pentland Group disclosed that it has made an investment in...
Pentland Group disclosed that it has made an investment in Tracksmith, a developer of premium performance running apparel, based in Boston, participating with others in a $4 million round of financing. The investment will help Tracksmith to further expand the product offering, to boost marketing and to create physical training ...
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News briefs
Dalian Wanda Group Co. has agreed to acquire full ownership...
Dalian Wanda Group Co. has agreed to acquire full ownership of the World Triathlon Corporation (WTC), which owns the Ironman brand and races, for $650 million. The takeover is reportedly going to make Dalian Wanda the world's biggest operator in the sports business. It already organizes many sports events and ...
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News briefs
Under Armour's shareholders approved a stock split on Wednesday, creating...
Under Armour's shareholders approved a stock split on Wednesday, creating a new C class of non-voting shares that will allow the company's founder and chief executive, Kevin Plank, to keep control of the company with 15 percent of the shares and 67 percent of the votes, but with a five-year ...
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News briefs
The board of another fast-growing U.S. company, Skechers USA, has...
The board of another fast-growing U.S. company, Skechers USA, has decided to implement a three-for-one stock split on Oct. 15, subject to shareholders' approval at its annual meeting on Sept. 24. The price of its shares nearly tripled in the past 12 months. At its stock market close of $142.73 ...
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News briefs
Callaway Golf Co. has issued 2,318,399 new shares to retire...
Callaway Golf Co. has issued 2,318,399 new shares to retire $17,388,000 worth of 3.75% convertible senior notes maturing in August 2019. The company will also make an unspecified cash inducement payment as part of the transaction, which will reduce the outstanding principal of the notes to $27,517,000. Earlier, Callaway had ...
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News briefs
Adidas has completed the purchase of a new warehouse outside...
Adidas has completed the purchase of a new warehouse outside Moscow at a price estimated by local sources at between $70 million and $100 million. Located in a warehousing complex where it has been renting more than 65,000 square meters of space since 2012, the new warehouse is nearly double ...
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News briefs
Adidas is testing different workplace concepts at its headquarters in...
Adidas is testing different workplace concepts at its headquarters in Herzogenaurach in a new office building named “Pitch,” where 300 of its brand management employees were moved at the beginning of the month. The new office space does not embody any finished concept but is the flexible beta version of ...
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News briefs
United Sports Brands is the new name of the combined...
United Sports Brands is the new name of the combined global organization resulting from the already announced merger of Shock Doctor Sports and McDavid. It will serve as the corporate parent of the two companies' brands: Shock Doctor, McDavid, Cutters and XO. United Sports Brands will move to a new ...
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News briefs
We have already reported on the sale of Backcountry.com by...
We have already reported on the sale of Backcountry.com by Liberty Interactive Corp. to an investment firm, TSG Consumer Partners (Compass no. 8-12+13 of July 13). Liberty has now disclosed that it made a gain of $105 million on the transaction, which gave Backcounty.com a valuation of 11 times projected ...
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News briefs
Amer Sports has announced the acquisition of the main assets...
Amer Sports has announced the acquisition of the main assets of Queenax, a provider of modular, functional fitness training machines based near Teramo, in central Italy. Queenax will be integrated into Precor as a component of Amer's fitness division. The inclusion of functional training, one of the fastest growing segments ...
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News briefs
New Balance and Berkshire Partners have closed the transaction for...
New Balance and Berkshire Partners have closed the transaction for the acquisition of Rockport from the Adidas Group. They have formed a new company, called The Rockport Group, that combines Rockport with the former Drydock Footwear Group, the company formed by New Balance to group its comfort shoe brands: Dunham, ...
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News briefs
Quiksilver has hired an adviser, Peter J. Solomon, to help...
Quiksilver has hired an adviser, Peter J. Solomon, to help obtain additional financing from lenders, says Bloomberg. With its stock trading at around 50 cents a share and a warning by the New York Stock Exchange that it may be delisted, Quiksilver is unlikely to raise additional equity. The company ...
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News briefs
Intersport France is investing an additional €6 million in Manufacture...
Intersport France is investing an additional €6 million in Manufacture Française du Cycle, its own bike factory at Machecoul, in western France. Intersport took over the plant from Cycleurope in 2013 and since then it has invested more than €10 million in the facility, according to Usine Nouvelle, a French ...
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News briefs
JD Sports Fashion has bought The Cuckoo's Nest. This British...
JD Sports Fashion has bought The Cuckoo's Nest. This British men's streetwear brand, best known for its graphic T-shirts, had been put into administration prior to the purchase. No details were given on the reasons for the administration. Lila Thomas and David Acland of Begbies Traynor, an insolvency firm based ...
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News briefs
El Corte Inglés, the big Spanish retailer, which plays a...
El Corte Inglés, the big Spanish retailer, which plays a big role in the sporting goods market, has sold a 10 percent stake for €1 billion to Sheikh Hamad Bin Jassim Bin Jaber Al Thani, a former Prime Minister of Qatar and former head of the Qatar Investment Authority. Sheik ...
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News briefs
Niki Lauda, the famous Austrian Formula 1 champion, has reported...
Niki Lauda, the famous Austrian Formula 1 champion, has reported acquired a stake of more than 10 percent in Signa Retail, the Austrian-based real estate company that controls the Karstadt department store chain and the Karstadt Sports stores in Germany, through his foundation. The car racer is also investing in ...
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News briefs
Decathlon has signed two contracts with the Goodman group for...
Decathlon has signed two contracts with the Goodman group for the installation of two new logistic platforms in China. One will be established in the Goodman Hannan Logistics Park at Wuhan, in Hubei province, and will have a surface of 85,000 square meters. The other one will measure 72,000 m² ...
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News briefs
Duca del Cosma, the German brand of golf and golf-inspired...
Duca del Cosma, the German brand of golf and golf-inspired shoes and clothing, has filed for insolvency proceedings in a court at Landshut. Plans are to stabilize the financial situation and to look for professional investors with the help of Advantum Corporate Finance. The brand was launched in 2004 by ...
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News briefs
Quiksilver may lose its listing on the New York Stock...
Quiksilver may lose its listing on the New York Stock Exchange (NYSE) unless it manages to lift its share price in the next six months or by its next annual meeting. The group says it was notified by NYSE on July 10 that it no longer complies with a requirement ...
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News briefs
Brunswick Corp., the parent company of Life Fitness, has acquired...
Brunswick Corp., the parent company of Life Fitness, has acquired Scifit Systems and added it to its Life Fitness division. The financial terms of the transaction were not disclosed. Scifit, based in Tulsa, Oklahoma, has a line of fitness equipment designed to meet the needs of senior citizens and patients ...
