All Corporations articles – Page 68
-
News briefs
Rens aims to raise $1 million to fund a sneaker made from coffee waste
Rens Original, the Finnish start-up that claims to have developed the world’s first sneakers made from coffee waste, is looking to raise $1 million to fund the manufacture of its new Nomad shoe, presented as “the world’s first crowdfunded climate neutral sneaker.” Rens Original made its debut in the summer ...
-
News briefs
Bauer Hockey acquires a skate sharpening firm
Bauer Hockey has announced its takeover of ProSharp, a skate sharpening and profiling company based in Sundsvall, Sweden. Founded in 1984, ProSharp is a partner of the Swedish Ice Hockey Association, among others, and is trusted by hockey players in the National Hockey League (NHL) as well as national teams ...
-
News briefs
TAF in line for sales of $500m this year
Announcing the closing of the transaction for the planned sale of The Athlete’s Foot to the Arklyz Group, Intersport International Corp. says the lifestyle footwear chain’s franchisees around the world raised its sales by more than 40 percent in the first half of this year. Param Singh, owner and CEO ...
-
News briefs
Iconix redeems its notes while merging with Lancer
The Iconix Brand Group has announced the full redemption of its outstanding 5.75 percent convertible senior notes, which were due in 2023, at their initial aggregate price of $125 million plus accrued interest, in connection with its planned merger with Lancer Capital on Aug. 4. The announcement coincided with the ...
-
News briefs
Federal authority confirms re-transfer of shares to Intersport Austria
The relevant authorities have approved the terms for the planned transfer of the shares in the Intersport Austria cooperative from Intersport Germany to the retail members of the Austrian buying group. Technically, the shares will be sold to a newly founded company, Premiumsport Service, based at Intersport Austria’s headquarters in ...
-
ArticleMoving into women’s activewear, Wolverine buys Sweaty Betty
Treading into interesting and promising new territory, Wolverine Worldwide unveiled its acquisition of Sweaty Betty, a fast-growing U.K.-based brand of women’s fitness and lifestyle apparel that was going to develop a collaboration with Merrell in the area of footwear. The all-cash transaction was closed on Aug. 2, giving the business ...
-
ArticleFoot Locker agrees to buy two chains in the U.S. and Japan
Foot Locker has announced two major acquisitions, one in the U.S. and the other one in Japan, where it is set to acquire Text Trading Company, which owns and licenses the upscale Atmos brand of sneakers and streetwear. It will be paying $360 million and an earnout for the Japanese ...
-
News briefs
GBG USA files for bankruptcy
Global Brands Group’s U.S. subsidiary, GBG USA Inc., and 10 related businesses have filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Southern District of New York, citing assets and liabilities ranging from $1 billion to $10 billion. The group’s global brand management and European wholesale businesses ...
-
News briefsS&P rates Decathlon A-2
S&P gave Decathlon a short-term issuer rating of A-2 because the French retailer’s performance exceeded the rating agency’s 2020 expectations. S&P was also pleased with the apparent recovery in the Decathlon’s chief markets, thanks to relaxed lockdowns, and with management’s preservation of cash and protection of credit metrics. Decathlon’s sales ...
-
News briefsU.S. athletic apparel maker Courtsmith secures $300,000 equity investment
Oakland, California-based sportswear and lifestyle brand Courtsmith is the latest high-growth company in the investment portfolio of ICA, a U.S. nonprofit venture capital firm. Founded by Courtney “Court” Smith, Courtsmith just closed a $300,000 equity investment from the ICA Growth Fund. The brand first gained notoriety with its team uniforms ...
-
News briefsAS Roma signs €36 million product partnership to support DigitalBits blockchain
AS Roma and U.S. fintech Zytara Labs have signed a three-year exclusive product partnership worth €36 million with the support of the DigitalBits Foundation (formerly XDB Foundation). The partners plan to use the DigitalBits blockchain to create official ASR blockchain-based digital assets, establish the digital assets as new purchasing methods, ...
-
News briefs
Obé Fitness raises a further $15m
Now that it has raised a further $15 million, the Obé Fitness platform has achieved a valuation of $190 million. This latest round of funding was led by CAVU Venture Partners, with new investors such as Athleta, Samsung Next, Wheelhouse Entertainment and WW International in tow, along with previous investors ...
-
News briefs
New majority shareholder in Full Swing
Bruin Capital will be acquiring a majority stake in Full Swing from North Castle Partners. North Castle will be retaining a stake in the producer of sports simulators headquartered in Carlsbad, California. Although specialized in golf, Full Swing produces “dual-tracking” simulators for 13 sports disciplines for the commercial, residential and ...
-
News briefsJD Sports rents 47,000-sqm warehouse in England
JD Sports Fashion has signed a 20-year lease with Panattoni, a global logistics and industrial real estate development company based in Newport Beach, California, for a 47,770-square-meter speculatively developed facility at Derby Commercial Park in the East Midlands, England. Under the terms of the agreement, JD Sports leases Derby 515, ...
-
News briefsiFIT acquires endurance experience company 29029
Utah-based company iFIT, a global brand for connected fitness software, content and exercise equipment (including the brands NordicTrack, ProForm and Freemotion), active in 120 countries, has acquired 29029, a company offering endurance hiking events. The acquisition delivers a new endurance athlete segment to iFIT’s community of over six million members ...
-
News briefs
Sequential sells DVS Footwear
While exploring strategic options to keep afloat, the Sequential Brands Group has announced the sale of its 65 percent stake in DVS Footwear to Elan Polo International for $2 million in cash. DVS is a global American brand of skate shoes founded in 1995. In April, Sequential sold another footwear ...
-
News briefs
Kassia Davis buys PF Flyers from New Balance
Kassia Davis has bought the 84-year-old PF Flyers brand of sports shoes from New Balance. She is a daughter of Jim Davis, controlling shareholder and chairman of New Balance, where she worked in a variety of positions for ten years until 2019. She then founded KADA, a brand of sustainable ...
-
News briefs
L Catterton reportedly mulls IPO
L Catterton, the U.S.-based equity investment group partly owned by LVMH and the family holding company of its CEO, Bernard Arnault, has been conducting preliminary discussions with banks about a possible initial public offering, according to Reuters. The investment group’s assets of more than $28 billion include a recently acquired ...
-
News briefs
JD Sports invests in Gym King
JD Sports Fashion has announced the acquisition of a “significant” minority stake in Gym King. Founded in 2015 by Jay Parker, Gym King is a U.K.-based brand of athleisure and performance wear. The deal is supposed to support Gym King’s growth and international expansion in the U.S., Europe and Asia, ...
-
News briefs
Echelon Fitness contemplates financial options
Echelon Fitness, a direct competitor of Peloton Interactive in the connected home fitness market, is evaluating new options to raise its valuation, according to Bloomberg, as its revenues are expected to more than double this year after rising by about 500 percent in 2020 to around $100 million. The options ...
