Corporate and M&A – Page 12
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ArticleAdidas completes divestiture of Reebok; launches new share buyback program
Adidas has formally completed the divestment of Reebok to Authentic Brands Group (ABG) on Feb. 28, 2022. On a transitional basis, the company announced that it would continue to operate the business on behalf of ABG in several markets. Subsequently, the Reebok business will be fully transferred to ABG’s operating ...
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ArticleiFit Health & Fitness raises $355 million in capital, names co-presidents
Months after abandoning a $650 million initial public offering due to unfavorable market conditions, iFIT Health & Fitness, formerly known as Icon Health & Fitness and parent of the NordicTrack, Weider and ProForm fitness brands, amongst others, has raised $355 million in capital from L. Catterton, the largest global consumer-focused ...
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ArticleS&P upgrades Under Armour’s outlook
S&P Global Ratings has revised its outlook for Under Armour from stable to positive, citing high demand for its products, reduced promotional pricing and abnormally high cash balances. Indicating that they may be raised over the next 12 months, the agency affirmed its debt ratings for the company on the ...
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Amer may reach a 13% Ebit margin on 20% higher sales, says S&P
Standard & Poor’s Global has upgraded its ratings for Amer Sports, largely echoing the positive comments made last month by Moody’s. S&P sees Amer’s growth accelerating to 20 percent in 2022 from 15 percent in 2021, followed by mid-single-digit increases in 2023 and 2024, thanks in part to investments in ...
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ArticleAdidas extends two board mandates amid five-year growth strategy
Adidas will continue to be led by its proven six-member executive team, which will jointly pursue the five-year “Own the Game” strategy launched in 2020. The company, based in Herzogenaurach near Nuremberg, announced on Thursday that the contracts of Roland Auschel and Brian Grevy were extended. Auschel, who is responsible ...
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ArticleSlinger completes acquisition of sports AI provider Gameface
Sports technology company Slinger announced the completion of its acquisition of gameface.ai, a provider of artificial intelligence (AI) for sports. Gameface.ai’s platform, which has been recognized by FIFA, World Football Summit Asia, and MIT’s Sloan Sports Analytics Conference for the accuracy of its technology, provides both technical (biomechanics) and tactical ...
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ArticleNike among investors in U.S. women’s basketball
Nike announced that it has joined other backers in investing in the U.S. Women’s National Basketball Association (WNBA). The total investment by all parties is $75 million, making it the largest capital raise to date for a women’s sports organization. In addition to Nike, which has been a commercial partner ...
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ArticleSouth Korean manufacturer Kido expands to Bangladesh
South Korea-based technical outerwear manufacturer Kido Industrial announced a total investment of more than $36 million in new factories in Dhaka, Bangladesh. Of this amount, the company will invest $31.17 million to establish a new company, Kido Dhaka Company Co, Ltd. In addition, Kido recently acquired an existing garment factory ...
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ArticleNick Brown passes on ownership of Nikwax and Páramo to employees
After 45 years as their owner and founder, Nick Brown has handed over control over Nikwax and Páramo on Feb. 1 to his employees on three continents at the age of 67 by selling the company to a newly formed Employee Ownership Trust. Nikwax Waterproofing Wax for Leather, ...
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Adidas has two other regional clusters in Europe
In addition to its creation of a ‘cluster’ for Southern Europe, which we reported about yesterday, Adidas has established similar regional clusters for Northern and Central Europe in the past few months. Cluster North is headed up by Kathryn Swarbick and includes the U.K., Ireland, the Benelux countries, Denmark, Norway, ...
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A new regional set-up for Intersport in Europe
Dividing the European market into three regional clusters, Intersport International Corp. (IIC) has established a new set-up that has probably contributed to its relatively good performance in the past year, in spite of differences from one country to the other. Under the wing of Steve Evers, CEO of IIC, an ...
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ArticleAdidas creates a new digital hub in Spain, while regionalizing Southern Europe
Adidas is creating a new international technological hub at its Spanish head office in Zaragoza to collect and process data for the development of its omni-channel operations on a wide scale and for other IT-related engineering capabilities, said a spokesman for the company, confirming a report in CMDsport. The number ...
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ArticleKKR offers to buy Accell Group
The bicycle industry continues to boom and is therefore increasingly targeted by investors. After the recent acquisition of Dorel Sports by the Dutch family-owned Pon Holdings group, it’s now the turn for the Dutch Accell Group to announce that a consortium led by the U.S. financial investor KKR (Kohlberg Kravis ...
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Peloton denies plans to pause manufacturing
While confirming that it is re-evaluating its organizational structure and the size of its staff, Peloton Interactive denied a new report that it was going to temporarily halt production of its stationary bikes and treadmills in response to softening demand. John Foley, co-founder and CEO of the American connected fitness ...
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Peloton raises prices, contemplates restructuring
The former star of the connected fitness industry and the stock market has asked McKinsey & Co. to review its cost structure with an eye toward cutting overheads by shutting down its new in-house apparel division, which is in litigation with Lululemon, and by eliminating some jobs, according to a ...
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Tennis-Point to run a pro shop in Spain
Tennis-Point has struck a four-year deal to take charge of and operate under its own banner the pro shop at a well-known Spanish tennis academy, the Emilio Sánchez Academy in El Prat de Llobregat, a municipality outside the city of Barcelona. The deal could lead to other pro-shop opportunities for ...
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ArticleStockX is reportedly working on its IPO
StockX, the fast-growing auction platform for heritage sneakers and other collectibles, has started working on a public offering with Morgan Stanley and Goldman Sachs, said Bloomberg, quoting “people with knowledge of the matter.” The report, which could not be confirmed, comes a couple of months after StockX announced its first ...
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ArticleTaylorMade gets good ratings after hitting $1.4 bn in revenues
Centroid Investment Partners, the South Korean private equity company that bought TaylorMade last spring from KPS Partners, is now seeking to refinance the debt used for that transaction. Moody’s and Standard & Poor’s gave relatively favorable ratings to its refinancing plans, noting that TaylorMade’s sales continued to grow strongly last ...
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ArticleAmer Sports sells Suunto to a Chinese tech firm
Amer Sports revealed an agreement reached with a Chinese technology company, Liesheng, to sell its Finnish-based Suunto brand, which specializes in sports watches, dive computers and other precision sports instruments. Amer said the sale was in line with its strategy to focus on developing internationally recognized sporting goods brands in ...
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Fanatics buys Topps, boosting its international sports collectibles business
Fanatics announced the acquisition of Topps’ sports & entertainment division, covering its worldwide online and offline business with trading cards and collectibles, in a deal said to be worth about $500 million. Topps had sales of $567 million in 2021. About 60 percent of the revenues came from the operations ...
