Latest Corporate and M&A – Page 17
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News briefsCaleb Williams launches new investment firm
American football quarterback Caleb Williams is launching an investment firm named 888 Midas. The new entity will target “like-minded associations and select private equity, venture capital and real estate funding opportunities,” 888 Midas said in a statement. Williams is the first player selected in the 2024 National Football League (NFL) ...
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News briefsComing next year: a new women’s basketball league
A professional league for women’s three-on-three basketball will debut in January 2025 – and in Miami, to judge by its placeholder website. Called Unrivaled, the league was co-founded by WNBA players Breanna Stewart and Napheesa Collier. According to Sportico, it has just undergone a round of seed ...
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News briefsLotto becomes first athletic brand to co-own a professional pickleball team
Lotto has announced a strategic partnership with the Brooklyn Aces, joining owners Kevin Durant, Rich Kleiman, Drake and Michael B. Jordan. The Italian footwear and sportswear supplier will become the first athletic brand in the ownership group of a professional pickleball team. Additionally, Lotto branding will be integrated into the ...
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News briefsTaylorMade inaugurates expanded golf ball plant in South Korea
TaylorMade Golf has announced the official opening of its expanded golf ball plant facility at TaylorMade Golf Ball Korea (TMBK). It is the company’s third golf ball plant globally, joining its facilities in Liberty (South Carolina) and Taiwan. TaylorMade created TMBK following the acquisition of Nassau Golf Co. Ltd ...
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ArticleSports fashion giant rises as New Era takes over ’47
New Era and ’47, a privately held premium sports lifestyle brand, have announced an agreement under which New Era acquires ’47.
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News briefsWIT Fitness’ founders return to the brand
The original founders of specialist training brand WIT Fitness, Sam Kitching and Daniel Williams, are returning to the brand. Frasers Group acquired WIT Fitness in January 2024 out of administration. Kitching and Williams have now bought back a majority stake through Friday&, where Kitching serves as Managing Partner. Frasers will ...
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News briefsR-Gol acquires Unisport to forge global football merch empire
R-Gol, backed by Innova Capital, has acquired Unisport from Nordic Capital. The merger combines R-Gol’s strong presence in Central and Eastern Europe with Unisport’s influence in Northern and Western Europe, aiming to shape a leading force in the football retail sector. With a projected combined revenue exceeding €200 million in ...
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News briefsNYC-based investment manager acquires Outdoor Voices
New York City-based consumer-focused investment manager Consortium Brand Partners (CBP) has announced the acquisition of Outdoor Voices, an athleisure lifestyle brand founded in 2013 by Tyler Haney, also from New York City. This is CBP’s second acquisition, following the announcement of a majority stake in Reese Witherspoon’s fashion and lifestyle ...
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News briefsSports Direct to introduce membership program with new omnichannel app
Sports Direct is set to launch a new membership program next month, featuring an “enhanced” omnichannel app, as part of its strategy to deepen customer engagement and enhance digital capabilities across its 500 UK stores. David Clark, Chief Customer Officer at Sports Direct’s parent company, Frasers Group, announced the initiative ...
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ArticleAuthentic and Beaumanoir announce partnership for Boardriders brands in Western Europe
Authentic Brands Group announced a long-term partnership with Beaumanoir Group, which will take over the former Boardriders business in France and license the Quiksilver, Roxy, Billabong, DC Shoes, Element, RVCA and VonZipper brands in key Western European regions, including France, Germany and the UK. Through the partnership, Beaumanoir, headquartered in ...
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ArticleAuthentic Brands Group to acquire Champion from HanesBrands
HanesBrands’ decision to shed its flagging Champion business, alluded to for months, will come to fruition in the second half of its financial year. Authentic Brand Group has signed a binding agreement to purchase the Champion athletic wear business for up to $1.5 billion. The transaction, expected to close sometime ...
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News briefsNike implements job cuts at European headquarters
Nike is, according to Bloomberg, implementing layoffs across its European headquarters as part of a global strategy to reduce operational costs by $2 billion. The job cuts, impacting roughly 2 percent of its workforce worldwide, have already seen around 750 employees dismissed from its Beaverton, Oregon headquarters. The reduction extends ...
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ArticleXXL and Frasers Group forge strategic partnership
XXL and Frasers Group are on the brink of forging a strategic partnership aimed at bolstering XXL’s dominance in the Nordic region. Frasers Group, which holds significant stakes in retail leaders like Sports Direct and over 30 percent of XXL’s Class A shares, sees XXL as uniquely positioned to strengthen ...
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News briefsPadel Galis founder invests in Auro System
Francisco Pérez Galisteo, founder and CEO of Padel Galis, has bought a majority stake in Auro System, according to the International Padel Cluster (CIP). Auro produces an attachment for pádel and tennis racquets that both helps corrects a player’s grip and dampens the racquet’s vibration. Padel Galis is a maker ...
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News briefsTennis-Point finds new owner
According to SGI USA, Fromuth Racquet Sports, a Pennsylvania-based racquet sports wholesaler and retailer, has reached an agreement to acquire e-tailer Tennis-Point on undisclosed terms to expand into the tennis e-commerce space. Tennis-Point will initially operate as an independent company and will retain the same name and contact details. All ...
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ArticleIndian TechnoSport raises 1.75bn rupees
Indian sportswear brand TechnoSport has raised 1.75 billion Indian rupees ( €19.32 million) from investment fund A91 Partners. The company plans to use the fresh capital to improve its production capacities, focus on digital brand development and strengthen its marketing activities. “With this support, we are poised to scale our ...
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ArticleGolden Goose plans IPO in Milan in June
Italian luxury brand Golden Goose said that it plans to hold an initial public offering (IPO) on the Milan stock exchange consisting of existing shares held by Astrum, its sole shareholder, and newly issued shares stemming from a capital increase. The brand will use the proceeds of the capital hike ...
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ArticleNidecker Group acquires iconic skate brands, expands legacy in action sports
The Nidecker Group has announced the acquisition of the skate brands Etnies, éS, Emerica and ThirtyTwo from Sole Technology. The deal sees Sole Tech’s founder, Pierre André Senizergues, remain CEO while retaining a minority interest in the brands. Under the leadership of Senizergues, the brands have become pioneers in the ...
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ArticleGoogle joins Walmart in new funding round for Indian e-tail giant
Google plans to contribute to the latest round of funding for Flipkart, Amazon’s chief competitor in India, and take a minority share in the generalist e-commerce platform – once regulators approve the deal. Flipkart says that both Google’s investment and its cloud will help the company “expand its business and ...
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News briefsInter Milan changes hands
Funds under the management of Oaktree Capital have swept in to take control of the Serie A football club Inter Milan. The club’s previous majority owner, Suning Holdings (headquartered in Nanjing, China), has failed to repay the outstanding balance on a loan from Oaktree that matured on May 21. That ...
