On June 26, the Commercial Court of Nice ruled that Head was the winning bidder for the troubled Aqualung Group, which was placed under receivership on May 16.
Head’s existing portfolios in Winter Sports, Racquet Sports, Sportswear, and Water Sports will be expanded upon with the addition of new brands. These new brands will significantly strengthen Head’s presence in the Water Sports segment. Some of the new brands include Mares, SSI, rEvo, Liveboard.com, and Zoggs.
Last Friday SGI Europe wrote a chapter in the Head/Aqualung series.
Head is planning a restructuring of the Aqualung Group business platform and will provide urgent funding to secure the continuation and long-term sustainability of the group. As such the Head Group has offered a rescue package of over €50 million along with a comprehensive integration plan with significant synergies. It will see hundreds of jobs saved and Aqualung’s current production facilities in France; UK and Mexico improved and expanded.
The combined group becomes the world leader in the global Water Sports market, uniting two iconic players driven by safety, technical excellence, innovation, comfort and design, performance, and passion for sport and aquatic exploration.
Head will maintain and develop the Aqualung, Apeks and Aquasphere brands and reinforce its strategic and growing military and professional division.
Head also plans to build on Aqualung Group’s production capabilities to support the global production and distribution of premium products. The combined expertise of the two companies will accelerate market leadership and open new opportunities to broaden access to water sports worldwide.
