More corporate news – Page 56
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News briefsKlarna enters partnership with Verifone
Klarna, the Swedish supplier of ”buy now, pay later” online payment solutions, has entered a partnership with Verifone, a California-based provider of hardware products for payment processing, that will make Klarna available to millions of Verifone devices in the U.S. and Europe. The ongoing Covid-19 pandemic has impacted shopping behaviors ...
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News briefs
Burton is paying sales commissions to wholesalers and retailers
According to Boardsport Source, Burton has initiated in certain European countries a pilot version of the “Sales Incentive Program” it has set up in the U.S. Employees at its wholesale partners in in Germany, Austria and Switzerland are receiving a commission, or “cash bonus,” on the sale of Burton x ...
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News briefs
Adidas confirms options for Reebok
Confirming previous media reports, the Adidas Group says that it has started considering various options for its Reebok brand, including a possible sale. “As part of the development of its new five-year strategy, adidas has begun to assess strategic alternatives for Reebok. These strategic alternatives include both a potential sale ...
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News briefs
Adidas grants a Corona bonus to all employees
Adidas has announced that it will give a Corona thank you bonus to all the members of its staff of about 60,000 employees around the world for Christmas. Regulations introduced by the German government will make the bonus free of taxes and social charges. The bonus will amount to up ...
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News briefs
European Tour and PGA Tour unite
The European Tour and the PGA Tour have announced a “Strategic Alliance” for golf competitions, covering tournament scheduling, prize funding, media rights and commercial matters. The PGA Tour will be acquiring a minority stake in the European Tour’s media production company, European Tour Productions, and the PGA Tour’s commissioner, Jay ...
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News briefs
Jay-Z and Novak Djokovic join CLMBR’s team
The musician Jay-Z and the tennis star Novak Djokovic have joined the investment team of CLMBR to support next year’s launch of the CLMBR Connected and CLMBR Pure vertical climbing machines for fitness training. Both machines have touch screens, an audio system and a tracking app to deliver on-demand, instructor-led ...
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News briefs
Sports Direct to purchase four stores in Spain
In a deal worth €34 million, Frasers Group’s sports banner, Sports Direct, will be purchasing six Toys ‘R’ Us stores in Spain in a sale & leaseback deal. They are located in the cities of Alcobendas (outside Madrid), Sant Boi (outside Barcelona), Granada, Valencia, Málaga and Pamplona. Toys ‘R’ Us ...
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News briefs
Calida offers to buy the remaining shares in Lafuma
The Calida group has published a formal offer to buy all the shares it doesn’t own yet in the Lafuma group, with a squeeze-out provision for the minority shares that are not be tendered. The offer follows the previously reported in The Outdoor Industry Compass, favorable opinion expressed by Lafuma’s ...
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Short stops
CORPORATE and M&A
+++ The Frasers Group, which owns the Sports Direct chain, has reportedly pulled out of a race for the control of the Debenhams department store, feeling that the auction price of £300 million is too high, but it has double its stake in Mulberry +++ Likely to face a surge ...
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ArticleVF acquires Supreme
VF Corp. has announced a definitive agreement to acquire Supreme, a young and cool American streetwear brand that has become an iconic symbol of a countercultural approach to fashion. Details have yet to be finalized, but the $2.1 billion transaction is expected to close before the end of 2020. Investors ...
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Article
Bike Fun changes hands, Canyon sees takeover interest
Bike Fun International (BFI), a bicycle maker based in the Czech Republic, and Consillium, a Prague-based private wealth management firm owned by Tomas Němec, have agreed on a transaction that will see Consillium acquire a 100 percent share in BFI. The deal was agreed on Oct. 1 and is expected ...
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News briefs
Dorel is to be taken private
Dorel Industries, the Canadian company known in our sector for its numerous bike brands (Caloi, Cannondale, GT, Mongoose, Schwinn, etc.) and also involved in home products and juvenile furniture, has reached an agreement in principle with various investors that would take it out of the Toronto Stock Exchange. In the ...
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News briefs
Bradshaw Taylor acquires Sherpa Adventure Gear
Bradshaw Taylor, which has been the distributor of Sherpa Adventure Gear for many years, has agreed to take over the brand and its assets. Corry Taylor, the owner of the U.K.-based wholesaler, will be its new chief executive. Sherpa Adventure Gear will continue a partnership with Innov8 Partners for sales ...
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News briefs
Sweaty Betty is reportedly looking for a new owner
Sweaty Betty, the British brand of women’s activewear, has reportedly asked Goldman Sachs to help find a new investor. According to The Times, it is seeking a valuation of about £250 million (CONVERSION €278.16 million). The brand currently operates more than 60 mono-brand stores in the U.K., the U.S., Canada ...
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News briefs
JD’s executive chairman sells shares
Peter Cowgill, executive chairman of JD Sports Fashion, has sold 2,587,326 shares in the British company at a price of 745.61 pence per share, leading to total proceeds of £19,291,102 (€21,406,962-$24,889,334). The retailer’s share price has been sliding in the last five days from around 800 pence to less than ...
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News briefs
Melchers Group combines Venice Beach and Joy Sportswear
The German Melchers Group, which has more than 50 brands from various industries under its umbrella, has reorganized its apparel segment. Its Scoretex subsidiary will serve as the “Home of Brands” for all four of the group’s sports brands. In addition to the labels Venice Beach and Curvy Fit by ...
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News briefs
Whoop is valued at $1.2 million in financing round
Here is another young connected fitness company that is commanding a high valuation. Whoop, an “athletic performance maintenance company” headquartered in Boston that provides memberships for 24/7 coaching to improve health and the free Whoop hardware that goes with it, has closed a $100 million Series E Financing round at ...
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News briefs
Under Armour divests MyFitnessPal, will discontinue Endomondo
Under Armour (UA) has entered into a definitive agreement to sell the MyFitnessPal platform to Francisco Partners, a global investment firm specializing in technology businesses, headquartered in San Francisco. MyFitnessPal, an activity tracker that helps around 200 million users in their health and fitness activities, will become a stand-alone company. ...
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ArticleTechnogym wants home fitness to generate half of €1 bn in sales
In reporting a 53 percent increase to €98 million in its home fitness segment for the first nine months of this year, Technogym said that its board of directors has approved a new three-year business plan, called Technogym At-Home, that calls for a doubling in the segment’s revenues from a ...
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News briefs
Decathlon invests €4 million in Cyclofix
Cyclofix, a French on-site bike repair service, has raised €5 million in an investment round including €4 million coming from Decathlon and €1 million from Via ID, a business accelerator that supports innovative start-ups in the field of new and sustainable mobility. Cyclofix, created by Alexis Zerbib in 2016, is ...
