News briefs - Corporate and M&A – Page 34
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News briefsNew eco-friendly eyewear brand from Switzerland
Veteran action sports designer Tony McWilliam is the driving force behind Attika, a new eco-friendly sports eyewear manufacturer that uses only biopolymers and recycled materials instead of virgin plastic and offers a repair service and used product (end-of-life) collection. Based in Verbier, Switzerland, Attika says its management team includes seasoned ...
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News briefsLille Stadium to become Decathlon Arena in €6 million naming deal
The Pierre Mauroy Stadium in Lille, in France’s northeast, is set to become the ”Decathlon Arena” following the signing by the French sporting goods manufacturer and retailer of a renewable five-year deal worth €6 million with the European Metropolis of Lille (MEL), which manages the facility. France Bleu first revealed ...
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News briefsFischer plant in Ukraine reportedly continues to operate
According to an online report by Italian trade publication Outdoor Magazine, the ski manufacturing facility in Mukachevo, Ukraine, is continuing operations during the country’s conflict with Russia, although with some limitations due to the current situation. The plant, owned by Austrian company Fischer Sports, produces skis and snowboards for its ...
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News briefs
Adidas taken out of Stoxx Europe 50
Due to its share price losses by market capitalization in recent months, Adidas shares are expelled from the Stoxx Europe 50 index. According to the so-called “fast entry rule,” the sporting goods company will be replaced by Swiss raw materials and mining group Glencore as of June 20. Adidas’ stock ...
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News briefsUnder Armour to be dropped from S&P 500 Index
Under Armour will be moved from the S&P 500 Index to the S&P Midcap 400 Index, effective June 21, according to a statement from S&P Dow Jones, after the company struggled with disappointing quarterly results in recent weeks. The U.S. sportswear brand had been included in the S&P 500 since ...
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News briefsRocky Brands completes cost savings review
Rocky Brands will close the Boston office it obtained with the acquisition of Honeywell International’s lifestyle footwear business that includes the Xtratuf and Muck brands, and cut its non-manufacturing headcount by approximately 13 percent. The actions are expected to result in $3.0-$4.0 million in annualized savings for the company that ...
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News briefsRYU appoints CFO
Vancouver-based sportswear brand RYU Apparel Inc. has hired Robert Lelovic as its new chief financial officer. Lelovic brings two decades of experience building publicly traded companies in various industries, from technology companies in Silicon Valley to the energy sector in Canada’s oil fields and Toronto’s financial district. During his time ...
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News briefsCanadian Tire Corp launches first own activewear brand
Canadian Tire Corporation (CTC) has launched its first own activewear label, called Forward With Design (FWD), which was designed, developed and engineered in-house. CTC is a Canadian group of companies that includes a retail segment, a financial services division and a real estate investment trust. In the sports business, the ...
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News briefsSamurai strengthens European business, partners with logistics specialist Bleckmann
British sportswear brand Samurai has chosen Dutch logistics company Bleckmann as its partner for freight forwarding and cross-docking in Europe. Since an investment by Primosole Holdings in May 2021, Samurai has been on a journey to transform its business model from focusing exclusively on premium teamwear in the rugby and ...
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News briefs
DuPont Biomaterials sold, reincorporated as Covation Biomaterials
Following the completion of the purchase from DuPont for approximately $240 million, the Chinese Huafon Group has reincorporated former DuPont Biomaterials as a stand-alone company under the name Covation Biomaterials headquartered in the U.S. state of Delaware. Covation aims to create sustainable building blocks for customers to make innovative bio-based ...
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News briefs
S&P revises outlook for Wolverine Worldwide
S&P Global has revised its outlook on Wolverine Worldwide to negative but maintains its BB rating on the issuer credit rating. Wolverine ended the first quarter with a debt-to-equity ratio of 5.2x due to last year’s acquisition of Sweaty Betty, a $30 million settlement related to PFAS contamination at a ...
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News briefsFusalp gets new funding to support international development
High-end skiwear brand Fusalp has announced a new capital increase from the Mirabaud Patrimoine Vivant and Mirabaud Lifestyle Impact & Innovation private equity funds, thereby acquiring a minority stake in the company. The financial terms of the deal were not unveiled. The new funding is meant to help Fusalp develop ...
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News briefsNew Neinver outlet village in France in construction
Neinver, a company specializing in the investment, development and management of real estate and the leading operator of outlet centers in Spain and Poland, announced the resumption of construction of its outlet village “Alpes The Style Outlets” near Geneva. When completed, this will be the 17th outlet center of the ...
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News briefsHanesbrands reports software attack, consequences yet unknown
Champion’s parent Hanesbrands Inc. has released an SEC filing informing the public of a ransomware attack on the company. The U.S. company has activated its response, and business continuity plans to contain the incident. According to the statement, the company has notified the appropriate law enforcement agencies and cooperates with ...
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News briefsS&P affirms Foot Locker’s BB+ issuer credit rating
Although the rating agency acknowledged that lower Nike sales would impact the retailer’s revenue and margins, S&P Global affirmed Foot Locker’s BB+ issuer credit rating with a stable outlook. S&P also sees volatile fashion cycles combined with long sourcing lead times due to ongoing supply chain challenges as a risk ...
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News briefsIntersport South East Europe opens new 25,000-sqm logistics center
Source: Fourlis Group New Intersport logistics center, southeast Europe The Intersport South East Europe subsidiary, based in Greece, has opened its new logistics center, run by Trade Logistics S.A. (both companies belonging to the Fourlis group). The new 25,000-square-meter facility in Oinofyta/Boeotia is a fully automated distribution ...
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News briefsU.S. provider of “Gravity Sportswear” secures $6 million seed funding
Omorpho, a Portland, Oregon-based sports and fitness company that provides microweighted athletic apparel for fitness training, has closed a $6 million seed funding round at a $26 million valuation, bringing its total funding raised to $13 million. The investment was led by KB Partners, a venture capital firm focused on ...
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News briefsAdidas unveils expanded US headquarters
Adidas has completed a 20,400-square-meter expansion of its North American headquarters in Portland, Oregon. The project, which kicked off before the pandemic in 2018, includes three additional buildings on campus, a new gym, cafes, parking and a soccer field. The expansion was realized by the team of Portland-based Lever Architecture, ...
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News briefsKlarna to lay off 10% of workforce due to changing business climate
Germany’s Manager Magazin reports that Swedish fintech Klarna will lay off about ten percent of its roughly 7,000 employees. The startup, led by co-founder and CEO Sebastian Siemiatkowski, reportedly said that rising inflation and the war in Ukraine had impacted the business climate, making the move necessary. At its last ...
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News briefsBase Detall Sport to enter Portugal
Base Detall Sport is entering Portugal, according to CMDsport. The Spanish sporting goods purchasing group, founded in Barcelona in 1985 and a former member of Sport 2000 International, has signed a deal with Brands Leaders to clap its banner or that of Wanna Sneakers onto many of the latter’s Portuguese ...
