All Corporate articles – Page 51
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News briefsDorel Industries closes new $450 million credit facility
Earlier this year – and after lively discussions between Dorel Industries Inc. and its shareholders – the Canadian conglomerate pulled out of the announced going-private transaction. With shareholders clearly expressing confidence in Dorel’s future and the greater potential for Dorel as a public company, the Canadians now announced that “it ...
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ArticleSigna Sports United buys bike e-tailer Wiggle - and plans to go public
Through a merger with Yucaipa Acquisition Corporation, a U.S. special purpose acquisition company, the previously indicated IPO (see SGI Europe) of Berlin-based Signa Sports United (SSU), led by Austrian investor Rene Benko, will now proceed faster than anticipated. According to a projected valuation, the combined company is expected to reach ...
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News briefsHoneywell acquisitions fuel Rocky Brands’ fishing and outdoor business
At Baird’s virtual 2021 Global Consumer, Technology & Services Conference, Rocky Brands said the addition of the Muck, Xtratuf, Servus, Neos and Ranger brands is pushing the company further into the fishing category and the booming outdoor market in general. Rocky Brands had bought Honeywell International’s performance and lifestyle footwear ...
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News briefsAsolo opens new factory in Romania
Already in April, Italian hiking and leisure footwear company Asolo has opened a new factory in Sibiu, Western Romania, in the presence of the president of Asolo Srl, Marco Zanatta, local authorities, international customers and partners. Asolo RO, an Asolo Group company founded 23 years ago, has already moved its ...
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News briefsGoldwin sets new financial and sustainability targets
Goldwin has laid out a plan to reach an annual turnover of 125 billion yen (€940m-$1.15bn) by the financial year ending in March 2026, up from 100 billion this year, while transitioning to 100 percent recycled and biosynthetic materials. The Japanese company, which markets 18 different brands in its home ...
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News briefsVF reportedly plans to discontinue Eagle Creek
Eagle Creek, the luggage and backpack brand, will cease operations by the end of the year, according to a report in the U.S. Outside Business Journal. Eagle Creek was founded in 1975 by Steve and Nona Barker in the San Jacinto Mountains of California and acquired by VF Corp. in ...
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News briefsComfort for camping newcomers: Outdoorsy invests in Collective Retreats
With the camping travel market booming and the “glamping” theme being promoted by the tourism industry for some time now, Texas-based RV rental company Outdoorsy is entering the luxury camping business. The company, whose offerings are also bookable online for Australians, New Zealanders, Canadians, Britons, Germans, French, Italians and Spaniards, ...
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ArticleNew boss and new structures for Dachstein’s parent
Juha Luhtanen, 51, became the new managing director of the Luhta Sportswear Company on May 4, taking the place of his older brother, Vesa Luhtanen, who has retired after many years at the helm of the Finnish-based family-owned company, previously known as the L-Fashion Group. The change of management has ...
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News briefs
UPDATE: RevolutionRace goes public
According to ehandel.se, RevolutionRace from Sweden has published its prospectus and IPO price on June 7 (we reported earlier). The latter lands at SEK 75 (€7.44-$9.06) per share, which corresponds to a market value of just under SEK 8.5 billion (€843m-$1.02bn). Founders Pernilla and Niclas Nyrensten, who currently own 34 ...
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News briefsPexco with name change and new organizational structure
Now that Austria-based Pierer E-Bikes GmbH (GasGas Bicycles, Husqvarna E-Bicycles and R Raymon brands) and Germany-based Pexco GmbH have grown together into a successful organization after nearly a year and a half under the umbrella of Austrian two-wheeler giant Pierer Mobility AG (KTM Sportmotorcycle, Husqvarna Motorcycles and GasGas Moto motorcycle ...
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ArticleBike and sports e-commerce retailer Bike24 plans to go public in 2021
In September 2019, private equity firm The Riverside Company bought back German e-commerce retailer for cycling, outdoor, fitness and swimming products, Bike24 GmbH, from British cycling e-commerce giant Wiggle CRC. Riverside had sold the continental European cycling online platform to the British industry giant in 2017. However, that deal had ...
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News briefsKathmandu signs more green credit facilities
Kathmandu Holdings, which owns the Kathmandu, Rip Curl and Oboz brands, has already been recognized as a certified B Corp. The company has now refinanced its credit facilities with two others where the borrowing costs are linked to the achievement of certain targets for reduced carbon emissions, transparency and labor ...
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News briefs
Naturkompaniet to enter Norway
Swedish outdoor retail chain Naturkompaniet – with German Globetrotter and Finnish Partioaitta part of the holding company Frilufts Retail Europe AB, which again is part of Fenix Outdoor International AG – has announced that it will enter the Norwegian market. To do so, it has recruited Simon Larsen from Carlings, ...
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ArticleIPO of the bicycle certificate based on first and newly created bicycle stock index
For the first time, investors can now invest in a specific certificate on what the company describes as “the world’s first bicycle index.” The planned date for the IPO on the Frankfurt Certificates Exchange is June 21. 10 percent of the annual fee of 1.3 percent of this so-called “donation ...
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News briefsDutch venture capital fund invests in Bikemap
For further growth in the areas of product development and scaling of its team, Austria-based Bikemap GmbH, with its worldwide bike route collection app Bikemap (www.bikemap.net), has raised fresh capital. This time, Dutch €140 million venture capital fund Ponooc stepped in with an undisclosed seven-figure sum. Ponooc focuses its investments ...
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News briefsRevolutionRace to go public
Swedish DTC outdoor brand RevolutionRace will reportedly list on Nasdaq Stockholm this month. Founders Pernilla and Niclas Nyrensten, who currently own 34 percent of the shares, will sell an as-yet-undisclosed amount of shares along with Altor, a Stockholm-based private equity investment firm that currently owns 61 percent. The founders and ...
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News briefsFox Racing with new financing partner
On May 18, investor Wingspire Capital provided a US$95 million senior secured credit facility consisting of a US$35 million revolving credit line and a US$60 million term loan to Fox Racing Inc. The U.S. company said it’s using the loan proceeds not only to refinance its prior senior credit facility ...
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ArticleVista unveils four-year plan with ambitious strategic goals
With a successful fourth quarter under its belt, Vista Outdoor, headquartered in Anoka, Minnesota, has released its “Roadmap to 2025.” The plan calls for annual sales growth of more than 10 percent, including acquisitions, and an EBITDA margin that is expected to increase from the current 15.5 percent to 20 ...
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ArticleVF Corp. launches new incubator platform to develop innovative business models
VF Corp. has launched Venture Platforms, an “innovation pillar that will focus on identifying and investing in new, future-focused opportunities.” The new brand pillar within the group will add a specific innovation-focused component to the existing brand portfolio strategy, which will focus on identifying and investing in new, forward-looking opportunities. ...
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News briefsHanwag celebrates 100th anniversary
Source: Hanwag Hanwag, the Bavarian outdoor footwear company, has said that it will celebrate its centenary by making 400,000 pairs of boots and shoes. The business was founded in 1921 by Hans Wagner, the son of a shoemaker, in the village of Vierkirchen, north of Munich. Wagner’s ...
