More corporate news – Page 57
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News briefs
Huub launches a crowdfunding campaign
Huub, a British producer of apparel and accessories for endurance sports, has launched a crowdfunding campaign on Crowdcube. It hopes to raise at least £250,000 (€277,000-$327,000) so as to “continue to scale its direct-to-consumer offering, expand the product range in its fast-growing cycling category, cater for the increasing number of ...
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News briefs
Rawlings acquires Easton Diamond Sports
Rawlings Sporting Goods and Easton Diamond Sports have entered into a definitive agreement for Rawlings to acquire Easton, the American baseball and softball brand. The financial terms of the deal have not been disclosed. The existing shareholders of Peak Achievement Athletics, Easton’s parent company, will continue to participate as minority ...
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ArticleAdidas may offload Reebok by March
Naming Anta Sports Products and VF Corp. as potential buyers for the brand, Germany’s usually well-informed Manager Magazin reports that the Adidas Group is planning to sell its Reebok division by next March. A spokesperson for the group said the company has a policy of not commenting on press rumors, ...
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Article
Little harm for Fischer from Ukrainian plant fire
In its first statement since a fire broke out at its Ukrainian joint venture factory in Mukachevo during the night of Oct. 11 to 12, Fischer Sports said it is immediately relocating some of its ski production to its own Austrian plant in Ried. By adding labor shifts at both ...
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ArticleUnder Armour is centralizing and digitalizing its European operations
Under Armour has decided against reopening its physical sales offices in Paris, Munich, Manchester and Barcelona, preferring instead to coordinate in-person and remote selling functions in the respective markets from a new, “futuristic” Digital Hub at its European headquarters in Amsterdam. The regional offices had been temporarily closed in the ...
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News briefs
Google could make new concessions to get Fitbit's takeover approved
According to Reuters, the deadline for the approval by European anti-trust authorities of Google’s $2.1 billion acquisition of Fitbit has been extended from Dec. 23 to Jan. 8 after Google expressed some readiness to change the concessions it would be willing to make. This came after receiving feedback from a ...
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News briefs
The Bic Sport brand will disappear by year-end
Bic Sport, the leading French surf hardware brand, will soon disappear after more than 40 years. The brand will be renamed Tahe, following its acquisition two years ago by Tahe Outdoors. Bic Sport branded products will not be available after the end of 2020, or earlier if stocks are exhausted ...
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News briefsNew owners and new e-commerce focus for 4FRNT
An American freeride and backcountry ski company, 4FRNT, has been taken over by a group of private entrepreneurs and long-time friends who are said to be bringing a combination of financial resources and experience in the ski industry and digital operations to develop the brand into a more modern e-commerce ...
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News briefs
Major fire in Fischer’s Ukrainian ski factory
We have not yet received Fischer Sports’ comments on various press reports regarding a night-time fire that destroyed a large part of its joint venture factry in Ukraine on Oct; 12. According to the State Emergency Service of Ukraine (SES), the roof of a large one-storey building at the plant ...
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News briefs
Frasers’ shareholders approve a special bonus scheme
Asked to comment on British press reports on the subject, Frasers Group, the owner of the Sports Direct chain of sports shops and other assets, says that its annual general meeting last week approved a special new £100 million (€110m-$129m) bonus program that would be open to the majority of ...
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Article
Boardriders’ recapitalization runs into rough waters
A recent new debt offering of $155 million issued by Boardriders to Oaktree Capital Management and other lenders is being challenged by a group of previous lenders who see their rights subordinated in the new deal, which establishes collateral rights for them with regard to their previous debt of around ...
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Article
Facebook helps in Elho’s rebirth
After an absence of two decades, the Elho brand of skiwear is marking a much remarked upon comeback with a 1989 Heritage Collection, in time for sale through its own website for the imminent autumn/winter season, although its delivery to customers has yet to start. The limited edition ...
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Article
Hyperice is valued at $700m in new funding round
Here is another fitness-related company, operating in a special niche of a growing market, that has obtained a high valuation in its latest round of financing. Hyperice, a U.S.-based specialist in muscle recovery systems, has been valued at around $700 million in a new Series A $48 million investment round ...
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News briefsMoody’s switches Vista Outdoor’s outlook from negative to positive
Favorable trends in U.S. outdoor activity and Vista Outdoor’s good competitive position with leading brands in various niches of the market have led Moody’s to change the group’s debt rating from negative to positive, following an improvement in its Ebitda margin. Vista’s brand portfolio includes Camelbak, Bushnell, Camp Chef, Primos, ...
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News briefs
A new round of layoffs is reportedly underway at Nike
According to reports in the Portland-based Oregonian newspaper, Nike has launched a new round of downsizing measures. A first phase over the summer involved more than a hundred vice-presidents, says the newspaper. The current phase is now reportedly hitting so-called “S-band” employees – namely some of the most senior and ...
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News briefs
Exer Labs raises new seed capital
Exer Labs, a fitness start-up headquartered in Denver, Colorado, has secured $2 million in further seed capital, bringing it up to $4.5 million. The new investors are GGV, AME Cloud Ventures, Morado Ventures, Range VC, Service Provider Capital, Shatter Fund, and Mike and Albert Lee, the co-founders of MyFitnessPal. ...
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Article
Intersport settles with creditors in Sweden at 75%
Intersport Sverige says it expects to come out of insolvency proceedings before the end of October, along with its Löplabet chain of running stores and another subsidiary, following the approval of a settlement by 99 percent of its creditors. We have learnt that they agreed to write off 75 percent ...
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News briefs
New B2B platform by Bollé Brands
Bollé Brands has started implementing a new digital B2B program, consecutively in Europe and the U.S., as a service to its retail clients. It involves a new internet platform with clear product descriptions and intuitive ordering tools, supported by an advanced ERP system and inventory management program. Monitored by the ...
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News briefs
Kering trims its stake in Puma to 9.8%
Kering has completed the sale of about 8.8 million shares in Puma for €655.6 million, further reducing its stake in the company from 15.7 percent to 9.8 percent. Kering held 86.3 percent of Puma’s shares before spinning off most of them to its own shareholders in 2018 in order to ...
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ArticleFunding round values Icon Health & Fitness at $7bn
Icon Health & Fitness got a valuation of more than $7 billion in a new $200 million round of financing which, according to Bloomberg, may be followed by a public offering of its shares in 2021. Founded 43 years ago in Utah with Mormon capital, Icon is the parent company ...
