All M&A articles – Page 13
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News briefs
ABG to retain its debt rating with Reebok's acquisition
Moody’s said that it will not be changing the Authentic Brands Group’s debt rating (B2 Stable) in light of its costly acquisition of Reebok. As Moody’s notes, Reebok’s sales growth “has consistently lagged behind” that of Adidas, the selling party (A2 Stable), and its turnaround, begun in 2016, is not ...
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ArticlePadel Nuestro under new ownership
According to CMDsport, the holding company Backspin Capital Investments has acquired Padel Nuestro and appointed a new CEO, Iñigo Colomina Fajardo, who is the chief executive of Colomina Investments of Madrid. The Spanish pádel retailer’s founders – Ismael Cancho Lozano, José Ignacio Simón Marín and Pascual López Cuadra – signed ...
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Fernando Alonso’s brand Kimoa acquired by Revolution Brands
Kimoa, the sports-inspired eyewear and apparel brand created by Formula 1 champion Fernando Alonso, has been acquired by Revolution Brands International. Under the terms of the agreement, Alonso will retain a 25 percent interest in Kimoa. The two-time Formula 1 champion will also continue to serve as the global ambassador ...
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Japanese sneaker platform Soda raises $56 million
Japanese sneaker platform Soda raised 6.2 billion yen (€48.1m-$56.4m) in a Series C funding. The main investor was Kream Corporation, a South Korean sneaker reselling platform that is part of the portfolio of South Korean SoftBank Ventures Asia, which in turn is also one of the Series C investors, along ...
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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 ...
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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 ...
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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 ...
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ArticleIFIT acquires the Sweat fitness platform
iFIT Health & Fitness, the leading American fitness equipment supplier formerly called Icon Health & Fitness, has acquired Sweat, an Australian-based online fitness training platform for women. According to the Wall Street Journal, which cites “people familiar with the matter,” the acquisition is preparatory to plans for an initial public ...
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Slinger Bag acquires Foundation Tennis
Slinger Bag, the growing developer of portable tennis ball launchers, has acquired Foundation Tennis, a U.S. company that develops software for the administration of racquet sports clubs, in exchange of shares. The software suite can handle operations, booking, payments and digital platform management (website design, hosting, and iOS and Android ...
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Sweden’s Stronger has a new owner
Stronger, a Swedish brand of women’s sports apparel, is now under the control of the Danish-Swedish venture capital firm Polaris, a specialist in Nordic mid-caps, which has won a bidding war to acquire a 51 percent stake in the company. The sales price has not been disclosed, but an anonymous ...
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SmartFlex paddings change ownership
G-Form has been acquired by a Greenwich, Connecticut-based investment company, Eldridge Industries. Details of the purchase price were not disclosed. G-Form is known for its patented SmartFlex impact protection technology used for a variety of team sports including baseball, soccer, field hockey and basketball as well as action sports such ...
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News briefs
Peloton completes the acquisition of Precor
Peloton Interactive has completed its acquisition of Precor, the American producer of fitness equipment that was part of Amer Sports until the Anta-led consortium agreed to divest it last December for a price of $420 million in cash, with adjustments for working capital, transaction expenses, cash and debt. In announcing ...
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Frasers acquires retail park near Manchester
Frasers Group has acquired the estate of the Robin Retail Park in the town of Wigan, just outside Manchester in the U.K. The terms of the sale have not been disclosed. According to Drapers, however, Otium Real Estate paid £12 million (€14m-$17m) for the property in March 2020. Among the ...
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News briefsSRAM buys Time Sport’s pedal business from Rossignol
Groupe Rossignol had already announced the disposal of the carbon frame and fork productio assets of Time Sport International, including its RTM Composite factory, to a French-American investment and management company, the Cardinal Cycling Group. Rossignol has now found a well-known buyer for its remaining bike pedal business. the ...
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ArticleAdidas has decided to divest Reebok
Having completed a month-long review of the brand, the Adidas Group has decided to begin a “formal process” to divest the Reebok brand. The other option would have been to keep it in-house. The German sportswear giant had originally planned to make an announcement on March 10, during a previously ...
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Rossignol finds a new buyer for some of Time's assets
Rossignol has sold many of the bike frame manufacturing assets of Time Sport International to Cardinal Cycling Group of Little Rock, Arkansas. Rossignol had originally planned to make the sale to WhaTTfornow, but this French e-bike producer pulled out of the deal for lack of funds. Cardinal has entrusted the ...
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Nike acquires a data integration firm
Nike has acquired Datalogue, a high-tech company founded in 2016 that operates out of New York City. Datalogue has built a proprietary machine-learning platform to siphon information from apps, supply-chain systems, enterprise data and so forth. According to John Donahoe, Nike’s president and CEO, the acquisition will help Nike “transform ...
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Under Armour completes the sale of MyFitnessPal
Under Armour has announced that it has completed the sale of the MyFitnessPal platform to Francisco Partners, a global investment firm specializing in technology businesses and headquartered in San Francisco. As previously announced by Under Armour in a news release on Oct. 30, the sale has a transaction value of ...
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ArticlePeloton prepares to acquire Precor
Peloton Interactive has entered into an agreement to acquire Precor, the American producer of fitness equipment products, for $420 million. Precor, which last reported a turnover of close to $450 million in 2018, is a unit of Amer Sports, which has been taken over by a consortium that includes Anta ...
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Fanatics acquires WinCraft
As Sports Business Daily reports, Fanatics has acquired WinCraft, in a move that will diversify the company’s reach beyond its core licensed apparel business. Established in 1961, WinCraft is a producer of sports-themed hardgoods and other non-apparel items. The company generates about $100 million in annual revenues, according to Fanatics, ...
