All Corporate articles – Page 50
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News briefs
U.S. brand Hyperlite secures equity investment
SGB reports that Hyperlite Mountain Gear, a U.S. East Coast company founded in 2010 by brothers Mike and Dan St. Pierre, has secured an investment from T-street Capital, a Connecticut-based independent growth equity firm founded in 2013 by Dale Cheney. Hyperlite has previously made a name for itself with high-tech ...
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News briefsDeuter introduces new look
After 37 years of constant branding, German backpack and sleeping bag specialist Deuter is introducing its new brand design and logo with the new 2021 spring collections. The new, clean and modern logo is only the fifth in the brand’s more than 120-year history. Alongside the younger ...
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News briefsSimplon prepares for further growth by expanding facilities
Austria’s second-largest bicycle producer, Simplon Fahrrad, has set the course for further growth: the company’s parent, Simplon Holding, has just acquired a property formerly owned by Vorwerk Austria, only 90 meters from Simplon’s premises. It will be handed over on April 1, 2021. No details were given about the purchase ...
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News briefs
New investors for Garmont
Garmont International, the Italian manufacturer of outdoor and tactical footwear, has announced that Italian Strategy Private Equity (ISPE), managed by Riello lnvestimenti Partners, has acquired a 65 percent stake in the company’s share capital. The transaction is expected to be completed by the end of March. Thereafter, Pierangelo Bressan, current ...
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News briefsOne millionth e-bike mid-motor leaves Brose’s production line
Late, but not too late, the German family-owned company Brose Fahrzeugteile came up with the electrifying idea to transfer its long experience as a supplier of electric motors for the automotive industry to the e-bike industry. In 2014 – when e-bikes were already gaining momentum – the company started a ...
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News briefsWolverine gets Standard & Poor’s upgrade
Standard & Poor’s has upgraded its outlook for Wolverine Worldwide to stable and confirmed its BB issuer credit while raising the rating on its senior secured credit facility to BB+. This came after Wolverine repaid a $171 million, 364-day loan contracted because of the coronavirus pandemic and reported better-than-expected results ...
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News briefsJack Wolfskin celebrates 40th anniversary
The German outdoor brand Jack Wolfskin, owned by the U.S. company Callaway Golf since the beginning of 2019, is celebrating its 40th anniversary in 2021. To mark the occasion, protagonists as well as customers will be featured throughout the year on www.jack-wolfskin.com/40years, who have shaped and accompanied the brand in ...
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News briefsBafang invests in subsidiary for battery pack production in Suzhou
China’s e-bike powerhouse Bafang Electric has just invested in a new subsidiary in its hometown of Suzhou to ensure timely delivery and compatibility of battery packs with Bafang’s products. As a result, the company’s board of directors has decided to establish its third wholly-owned subsidiary, Bafang New Energy (Suzhou) Co. ...
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News briefsMöve Bikes files for insolvency, search for investors in full swing
German bike manufacturer Möve Bikes filed for insolvency on Feb. 5. Attorney Marcello Di Stefano of the Erfurt-based law firm Diligens Rechtsanwälte & Insolvenzverwalter was appointed as provisional insolvency administrator. Business operations are currently continuing, and employees’ salaries have been secured through the advance financing of insolvency benefits. According to ...
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ArticleAmpler Bikes continues to expand after doubling sales in 2020
After doubling its sales last year, young B2C e-bike company Ampler Bikes is looking to simultaneously expand into other national markets this year while maintaining a high growth rate in Germany (currently the company’s most important market). For 2021, the Estonians have their sights set on Switzerland and the Netherlands. ...
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News briefsWayne Edy buys back Inov-8 from Descente
Wayne Edy is back at the helm of Inov-8, the British footwear, apparel and equipment brand he founded in 2003. As the company prepares to launch a new graphene-based running shoe, Edy reportedly already bought back the 80 percent stake in the company last year that he sold to Descente ...
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News briefsGarmin opens manufacturing facility in Wroclaw, Poland
Garmin has opened a new manufacturing and distribution facility in Wroclaw, Poland, to serve automotive and CE customers throughout Europe. The BREEAM (Building Research Establishment Environmental Assessment Method) certified facility includes nearly 30,000 square feet of state-of-the-art manufacturing and distribution space dedicated to the production and supply of infotainment systems ...
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ArticleVolkswagen enters bicycle leasing and financing business
On February 18, Volkswagen Financial Services, a wholly-owned subsidiary of German automaker Volkswagen (VW), announced an expansion of its broad range of mobility services to include leasing and financing of bicycles and e-bikes. The new business will be generated through VW Volkswagen Financial Services’ investment in Digital Mobility Leasing (26 ...
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News briefs
Moody’s responds positively to Vista’s $500m debt offering
Moody’s has upgraded the rating of Vista Outdoor’s new senior unsecured notes from B2 to B3 after the company expanded their offering from $350 million to $500 million in response to strong demand from the financial community. The new notes will bear an interest of 4.500 percent and mature in ...
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ArticleNiche e-bike brand Nox Cycles launches crowdfunding campaign
German-Austrian bike brand Nox Cycles, which set its course towards e-bikes in 2015 and founded Nox Cycles Austria GmbH based in Zillertal two years later, is currently attracting attention. Last year saw the launch of the construction of “Fort Nox”, a state-of-the-art, sustainable and resource-saving administration and production building with ...
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News briefs
Decathlon plans to produce bicycles in Romania
The cycling boom has prompted Decathlon, a major player in the segment with its private-label lines, to increase its production capacity in Europe. While expanding production in France and Portugal, the company is working with a partner in Romania, Sport Mechanical Workshop, to build a new factory near Timisoara. With ...
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ArticleHaglöfs reports stable sales in 2020
Despite the prevailing pandemic and turbulent market conditions, Swedish outdoor brand Haglöfs reported that it managed to deliver net sales for 2020 in line with last year’s strong performance. The company did not provide any figures. According to CEO Fredrik Ohlsson, the ability to mitigate the crisis is mainly due ...
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News briefs
Dorel Group terminates going-private transaction
Canadian Dorel Industries has terminated the going-private agreement between itself and an affiliate of funds managed by Cerberus Capital Management as buyer by mutual consent. As a result, the planned going-private transaction is a thing of the past. The agreement provided that the above-mentioned buyer would pay Dorel shareholders a ...
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ArticleDelivery problems take their toll on multichannel supplier Rose Bikes
After an extremely successful 2020 fiscal year with a 34 percent increase in sales, the Corona pandemic’s economic effects are now hitting German B2C bicycle supplier and retailer Rose Bikes. The Bocholt-based company speaks of a “lack of delivery reliability on the part of Asian component manufacturers. This has direct ...
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ArticleVF expands the role of equity in its labor policy
In line with its Council to Advance Racial Equity (CARE) and Inclusion, Diversity, Equity and Action (IDEA) initiative, VF Corp. is implementing a number of new measures in its labor policy. “All VF employees will participate in a foundational inclusion and diversity learning journey to ensure they share a common ...
