More corporate news – Page 40
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News briefs
Court sets an Oct. 28 deadline to bid for Sequential’s brands
The auction being supervised by U.S. Bankruptcy Court for the District of Delaware for the bankrupt Sequential Brands Group is set to start next month. Interested parties have been given a deadline of Oct. 28 to submit bids for any of its assets to be added to those already filed ...
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Article
Peloton diversifies into strength training and more
Predicting an adjusted Ebitda loss of $325 million for the current financial year, ending in June 2022, Peloton Interactive told the Goldman Sachs Communacopia Conference that it will be a year of important new product releases as well as strong investments in marketing, supply chain and IT. Notably, the company ...
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News briefs
Celebrities invest in Hydrow prior to a possible IPO
Following a business model that is becoming more common in the industry, various celebrities participated in a new funding round for Hydrow, the connected rowing equipment brand. Indicating that its sales jumped by 500 percent in the past year, the company also announced the appointment of a chief commerciale officer, ...
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Article
New MD, narrowed focus for Rossignol’s Spanish ski plant
The head of Skis Rossignol de España, Enric Casas, is retiring in October at the age of 65, after 35 years with the company. Casas joined Rossignol in 1986 as an engineer and went on to become a technical manager. He was appointed managing director of the Spanish manufacturing subsidiary ...
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News briefs
New investor for Finland’s FootBalance
FootBalance, the Finnish manufacturer of custom insoles, has entered into a partnership with a new investor, London-based IPGL Limited, which has acquired Scope Growth II L.P.’s shares in the company. “FootBalance has during our ownership evolved from a local provider of insoles to become a global category leader in foot ...
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News briefs
French sports marketplace raises funds to help it internationalize
Colizey, a French marketplace for sporting goods launched in 2019, is planning to move abroad in 2022, following a new round of financing worth €8 million. Existing and new investors such as Teddy Riner, the French judo champion, have participated in the fund-raising, joining the French-American basketball champion Tony Parker ...
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News briefs
Le Coq Sportif expands French production
Le Coq Sportif has launched the construction of an extension to its French sports clothing factory at Romilly-sur-Seine that will employ 80 persons, joining the 100-odd employees of its existing plant. Measuring 3,000 square meters, it should come on stream at the end of 2022. Yannick Noah and other brand ...
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News briefs
Callaway shareholder expands its public offering
PEP TG Investments, one of Callaway Golf’s largest shareholders with its stake of more than 15 percent, will finally sell 4,000,000 of its shares in the company, one million more than previously planned, through a public offering. It is pricing it at $29.25 per share, below Callaway’s closing price prior ...
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News briefs
A new Italian shareholder for Houdini
An Italian investment company, GDTRE, is taking a stake in the equity of Houdini Sportswear, a Swedish outdoor brand that has a strong commitment to sustainability. GDTRE will join the brand’s co-founders, Hanna Lindblad and Eva Karlsson, who together own 77 percent of the company, as well as Stefan Ytterborn, ...
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News briefs
Big Callaway shareholder reduces its stake through a public offering
Callaway Golf Co. has announced the start of a public offering of 3,000,000 shares in the company by one of its biggest investors, PEP TG Investments, which will reduce its stake to about 13.7 percent from 15.5 percent if an overallotment of 450,000 shares is exercised. The offering boosted Callaway’s ...
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News briefs
Canada Goose launches an automatic share repurchase scheme
Canada Goose has entered an “automatic share repurchase plan,” allowing for the purchase of shares by a broker at times when it would not be permitted to acquire them, based on certain parameters. The Toronto Stock Exchange has cleared this scheme, allowing it to start on Sept. 16 in connection ...
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ArticleOn has become one of the most valuable athletic footwear brands
After only 11 years in existence, On Running has joined other big players in the sporting goods market with its ONON ticker symbol in terms of stock market capitalization. Its parent company, On Holding, started trading on the New York Stock Exchange yesterday at $35 a share, 46 percent above ...
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News briefs
Courir buys a Danish-based sneaker retailer catering to women
Courir, the international French-based athletic footwear chain sold by Groupe Go Sport to Equistone Partners Europe at the end of 2018, is taking over Naked Copenhagen, an international online and offline retailer speicializing in top-tier releases of sneakers and streetwear for young women. The price of the transaction has not ...
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ArticleCrocs wants to triple sales in five years
Crocs said it is targeting an operating margin of at least 26 percent on annual sales of $5 billion by 2026, with 50 percent of the turnover or more due to be generated through digital channels. This would compare with an adjusted operating margin of 18.9 percent in 2020 on ...
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ArticleStrong start for On Running on the NYSE
Source: On Running On runs to NYSE. Investors apparently rushed to buy the new Class A shares offered by On Holding and some of its shareholders as they reportedly started trading on the New York Stock Exchange today at around $35 per share, well above a price ...
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News briefs
Xtep sells bonds to Hillhouse to help internationalize K-Swiss and Palladium
Xtep International has completed a $129.4 million convertible bond offering intended to expand the presence of its K-Swiss and Palladium brands internationally. The debt offering consisted of two tranches, a U.S.-dollar-denominated tranche of $65 million with a zero coupon and a tranche worth 500 millionn Hong Kong dollars ($65.4 million) ...
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News briefs
On Holding raises IPO price to $20-22
The parent company of On Running has informed the U.S. Securities & Exchange Commission that it has decided to raise the price of its initial public offering from a range of $18 to $20 to a range of $20 to $22. The company has also indicated that the full overallotment ...
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News briefs
Castore moves into cricket, eyes a possible IPO
Castore, which is said to be planning to go public in 2022, has replaced New Balance as sponsor of the England & Wales Cricket Board (ECB). By the terms of the deal, worth some £25 million (€29m-$35m), the British sportswear producer will be supplying all ECB teams – men’s, women’s, ...
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News briefs
Vista Outdoor buys a producer of golf simulators
Trying to capitalize on the recent boom in the golf market, Vista Outdoor has agreed to buy Foresight Sports, a producer of high-enhd golf simulators based in San Diego, California, for $475 million plus up to $25 million in contingent incentives. The amount is equal to about ten times the ...
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News briefs
VF executive takes over Eagle Creek
Travis Campbell, a former consultant with Andersen and a former Deloitte consultant who had been in charge of emerging brands at VF Corp. until a few weeks ago, has acquired all the assets of Eagle Creek, a daypack and travel luggage brand founded in Colorado in 1975 that VF took ...
