More corporate news – Page 135
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News briefs
Nike Inc. reported a definitive agreement to sell its casual...
Nike Inc. reported a definitive agreement to sell its casual footwear brand, Cole Haan, to an investment fund, Apax Partners, for $570 million. The price is considered to be relatively high, but it was probably boosted by the fact that Jack Boys, who formerly directed Converse, is going to run ...
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News briefs
Nike Inc. is transferring much of the surf-related product and...
Nike Inc. is transferring much of the surf-related product and marketing operations conducted under the Nike brand to Hurley International, its specialist brand of surfwear. The details are not yet clear, but it seems that the sponsored athletes will continue to wear Nike shoes.
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News briefs
Nike Inc. has announced that it will split its share...
Nike Inc. has announced that it will split its share capital in two on Dec. 24. Owners of Class A and Class B shares of record on Dec. 10 will get an extra share for each one in their possession, and the share price will be halved. They will also ...
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News briefs
Lafuma, the French outdoor group, said that preliminary talks...
Lafuma, the French outdoor group, said that preliminary talks held with E-Land for a potential takeover by the Korean group had not revealed sufficient synergies between the two companies. Lafuma confirmed last month that it had been approached by E-Land and agreed to hold discussions with the Korean group, which ...
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News briefs
Rossignol has opened a newly designed testing center for skis...
Rossignol has opened a newly designed testing center for skis in Sölden, Austria. It is part of the Europa Test- und Ausstellungszentrum (“Europe Testing and Exhibition Center”), described as the only one in the world, where all leading brands of snow sports equipment are represented. At Rossignol's testing area, staff ...
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News briefs
Pro-tec, a brand of action sports protective gear, has been...
Pro-tec, a brand of action sports protective gear, has been sold by Vans to Dye Precision. The transaction is expected to be completed during the fourth quarter of 2012. Terms were not disclosed. Pro-tec, which will celebrate its 40th anniversary in 2013, came under Vans' umbrella a decade ago. Dye ...
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News briefs
Cycleurope is filing for bankruptcy proceedings at its production site...
Cycleurope is filing for bankruptcy proceedings at its production site in Machecoul, on the west coast of France. As reported by Bike Eco, the factory, which produces bicycles for supermarkets and other mass merchants, will remain operational for a six-month period, under observation by the commercial court of Troyes. The ...
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News briefs
The Daily Telegraph reports that Mike Ashley, the majority shareholder...
The Daily Telegraph reports that Mike Ashley, the majority shareholder of Sports Direct International (SDI), is eyeing a stake in House of Fraser, a big British chain of fashion department stores. The unconfirmed report said that Ashley had been holding talks with several of House of Fraser's shareholders, to acquire ...
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News briefs
Bernard Tapie, formerly the president of the French football club...
Bernard Tapie, formerly the president of the French football club Olympic Marseille, has confirmed his interest in the acquisition of some of the newspapers of the group Hersant Média in the south of France, including La Provence, Nice-Matin and Corse-Matin. With accumulated debts reaching €200 million, the media group is ...
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News briefs
Hardy & Greys, the fishing tackle company that goes back...
Hardy & Greys, the fishing tackle company that goes back to 1872, is being sold by its owner, the Harris & Sheldon Group, a family-owned private investment group in the U.K. Grant Thornton, as business adviser, is looking for a buyer. Harris & Sheldon is trying to sell off all ...
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News briefs
Northern Tool+Equipment, a mail-order and brick-and-mortar retailer based in Minnesota...
Northern Tool+Equipment, a mail-order and brick-and-mortar retailer based in Minnesota and owned by the Kotula family with some 80 stores, is raising its total annual sales to nearly $1.5 billion with the acquisition of The Sportsman's Guide and The Golf Warehouse. These two operations belong to Redcats USA, the American ...
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News briefs
Pon Holdings in the Netherlands has announced that it has...
Pon Holdings in the Netherlands has announced that it has acquired the Union brand of bicycles from the Dutch Bicycle Group (DBG). It is the fourth takeover in the bike sector for the Dutch conglomerate, which also owns Derby Cycle, Gazelle and Cervelo. Pon will only market the Union brand, ...
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News briefs
Oxbow, the surfwear brand of the Lafuma Group, has launched...
Oxbow, the surfwear brand of the Lafuma Group, has launched a restructuring plan that will involve the elimination of 38 jobs out of a total of 145 at its French head office. Oxbow's revenues were down by 16.4 percent to €53.5 million in the latest financial year, ended on Sept. ...
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News briefs
According to Reuters, Nike is in final negotiations to sell...
According to Reuters, Nike is in final negotiations to sell Cole Haan to Apax Partners for about $500 million, beating out the bids made by other equity firms. Jack Boys, former chief executive of Converse, would run Cole Haan to trigger a new phase of growth. According to other sources, ...
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Short stops
Denying rumors about its possible sale of the French company,...
Denying rumors about its possible sale of the French company, an executive of Tecnifibre indicates that it plans to announce some major new product initiatives before the next Ispo fair
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News briefs
Powakaddy has reportedly been bought back by its former owner,...
Powakaddy has reportedly been bought back by its former owner, John de Graft-Johnson, and by the former owner of the Hill Billy brand, David Catford. Its electric golf trolleys will continue to be manufactured in the U.K. According to Sports Marketing Surveys, Powakaddy has a market share of 51 percent ...
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News briefs
Billabong International told shareholders at its annual meeting that the...
Billabong International told shareholders at its annual meeting that the company remains receptive to takeover offers from third parties. Company officials said they could not tell what led Texas Pacific Group to withdraw its takeover offer 12 days before the annual meeting in the course of the due diligence process. ...
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News briefs
A French label of surf-inspired clothing, Kanabeach, is looking for...
A French label of surf-inspired clothing, Kanabeach, is looking for a buyer at the request of a local court, which has extended the company's receivership until March 2013. One of its biggest assets is a network of 25 stores in urban locations. Its sales have plunged down to an annual ...
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News briefs
More companies besides Scott Sports Group and Patagonia (see related...
More companies besides Scott Sports Group and Patagonia (see related stories in this issue) are acquiring stakes in some of the suppliers of technology and services. Nike has taken a minority stake in a company that it has been a customer of for two years: Llamasoft, which develops supply chain ...
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News briefs
Li Ning is selling 25 percent direct stake in his...
Li Ning is selling 25 percent direct stake in his eponymous firm to Viva China Holdings, a company in which his family has a 56 percent stake, for HK$1.36 billion (€135.6m-$175.4), but the shares will technically remain inside the family. The sum will be paid by Viva China to buy ...
