All Corporations articles – Page 60
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Article
Li & Fung teams up with Maersk
Li & Fung, the leading Hong Kong-based sourcing company, and Maersk, the world’s largest container shipping company, have agreed to form a strategic partnership to offer a more comprehensive range of end-to-end global supply chain services by utilizing their respective resources. As part of the deal, Li & Fung has ...
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Article
Ambitious new targets for Slinger
Slinger, the company that introduced the portable Slinger Bag for tennis balls in 2019, is targeting sales of $17 to $18 million for the financial year ending in April from this product, to the exclusion of recent acquisitions, representing year-on-year growth of between 57 and 67 percent. It expects to ...
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News briefsOberalp Group acquires manufacturer of raw material for ski touring skins
The Oberalp Group has announced the acquisition of Velotex from Pongs Velours. Velotex specializes in the production of mohair velvet, which is an essential product for ski touring skins, and other products for skiing. The closing of the transaction is scheduled for Jan. 1, 2022. The takeover allows Oberalp to ...
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Article
Samurai is “pushing forward” beyond rugby
Capitalizing on the growing popularity of rugby and inspired by its values, Samurai is broadening the range of its apparel collections from teamwear into the wider lifestyle and athleisure sectors to address a wider community of consumers. It’s going to do this with a lot of story-telling on social media ...
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News briefs
Sports Direct’s parent may go private
Frasers Group, parent company of Sports Direct and many other operations, has failed to address so far recent rumors that Mike Ashley, its biggest shareholder, may want to take the company private. He already owns about 68 percent of the shares, and an ongoing share buyback program may soon take ...
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Article
Moody’s upgrades Under Armour’s rating, pointing to opportunities outside North America
In May, Moody’s had upgraded its financial outlook for Under Armour from negative to positive and improved other metrics, considering that its turnaround had been successful. This time, it upgraded its debt ratings further following better-than-expected recent increases in sales and earnings. Moody’s again praised Under Armour for the significant ...
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News briefsMIPS moves up to Nasdaq Stockholm’s Large Cap segment
Following Nasdaq’s annual review of the market capitalization of listed companies, Mips AB, which is well known for its innovative helmet technology BPS (stands for “Brain Protection System”), is moving up from the Mid Cap to the Large Cap segment of Nasdaq Stockholm. The move will be effective on Jan ...
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News briefs
Aqua-Leisure buys Airhead to trigger synergies and to expand
The Airhead Sports Group, a company based in Denver, Colorado that has dealers in nearly 80 different countries, has become the property of Aqua-Leisure Recreation, another U.S. watersports equipment company based in Avon, Massachusetts. The goal is to implement synergies in R&D, sourcing and distribution. Airhead sells a variety of ...
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News briefs
Skechers extends and expands its credit facility
After booking record results for the third quarter, Skechers has expanded its senior unsecured credit facility from $500 million to $750 million, extending its maturity date from November 2024 to December 2025. It will retain a $250 million accordion feature that allows the company up to $1 billion worth of ...
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News briefs
KKR invests in PureGym to support its expansion
There is evidently a new sense of optimism in the gym business, in spite of recent lockdowns. KKR has agreed to become a minority investor in PureGym, a U.K.-based group that operates more than 500 gyms in the U.K. and other European countries, while providing it with an investment of ...
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News briefs
Adidas launches a new €4 billion share buyback program
Adidas has announced the launch of yet another share buyback program that will involve investments of €4 billion until 2025, starting in January 2022. It has already bought back €1 billion worth of shares this year. Adding annual dividend payouts in a range of 30 to 50 percent of net ...
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News briefs
Big variations in SSU’s market capitalization
Signa Sports United, the German-based parent of Tennis-Point and an array of online bicycle webstores, saw its share price close at €9.93 on Dec. 15, its first day of trading on the New York Stock Exchange. The stock price rose to €10.25 in after-hours trading. A total of 137,481 shares ...
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News briefsNew business plan for Polygiene
The board of directors and the management of Polygiene, the Swedish ingredient brand supplier, have set new financial targets for the 5-year period from 2022 to 2026. According to the new business plan, Polygiene should achieve net sales of more than SEK 1 billion (€98.6 million) and an Ebit ...
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ArticleSigna Sports United goes public with a valuation of $3.0 billion
Signa Sports United (SSU), which has become the largest dedicated sports e-tailer in the world, started trading on the New York Stock Exchange on Dec. 15 with an opening price of $9.07 per share, down from an issue price of $9.43, which gave the company a valuation of $3.13 billion. ...
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Article
New Era Cap is refinancing itself
New Era Cap wants to refinance its existing debt, including the convertible bonds held by a minority shareholder, ACON Investments, after scoring major improvements in sales and profits in the last few months. The actual revenues of the U.S.-based headwear and apparel company, controlled by the Koch family since its ...
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ArticlePadel Nuestro acquires Definitely Time2padel
The Spanish specialty retailer Padel Nuestro has achieved worldwide retail domination in the sport of pádel, following its acquisition over the past two weeks of Definetely Time2padel, along with its Time2padel and Padelmania banners and its Mystica brand of paddles. The terms and the price paid remain undisclosed. The company, ...
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ArticleNike acquires a London-based digital assets producer, RTFKT
Nike has acquired RTFKT (pronounced “artifact”), which the sportwear giant describes in its press release as delivering “next generation collectibles that merge culture and gaming.” The terms of the deal will not be disclosed, said NIke. Founded as a company as recently as January 2020 – by Benoit Pagotto, ...
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Article
YAC shareholders voting on combination with SSU
Signa Sports United (SSU) and Yucaipa Acquisition Corp. (YAC) said they expected to complete their planned business combination on Dec. 14, following approval by YAC shareholders at an extraordinary general meeting on Dec. 13. The transaction was expected to generate gross proceeds of at least $484 million, coming mainly from ...
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ArticleSpain's Tréndico annexes an 11-store chain
The Tréndico buying group – which has come in seventh among Spain’s largest sports retailers in our recent ranking – has completed a two-year initiative and fully absorbed Grupo Rico, a smaller operation headquartered in the town of Parla, outside Madrid. Ricosport, which enjoys a strong position in the Madrid ...
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News briefs
More concentration in the German media market
Accelerated by the Covid pandemic, which has reduced the sports brands’ budget for national B2B advertising, the number of German retailer-oriented trade publications operating in the German sporting goods market has been cut from three to one over a span of just five years. The Ebner Media Group (EMG) has ...
