Latest Corporate and M&A – Page 13
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ArticleTrial phase of the new Bike24 logistics center for southern Europe underway
Before the end of the year, the new logistics center of the German cycling, running and swimming sports online retailer Bike24 Holding AG started its pilot run in Barcelona. The first test packages have already been shipped. This means that the second logistics center of the “leading e-commerce platform for ...
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ArticleMichael Sieber: “There will be some bumps in the road”
Ortovox general management reveal their challenges for 2023 and explain why they are confident.
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ArticleItalian investor joins 3T Cycling
To support 3T Cycling’s ongoing rapid growth, UTurn Investments Srl, an independent family firm founded by Gianpiero Peron, Luca Mongodi and Alberto Nicoli, has invested in the iconic high-end Italian niche bicycle company. The focus is also on expanding 3T’s own “Made in Italy“ factory, where not only bike components, ...
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ArticleBritish Mammut owner and investment company Telemos takes majority stake in Vittoria Group
A year and a half after acquiring the Swiss Mammut Sports Group from Bystronic (formerly Conzzeta Group), Telemos Capital is making news with another acquisition in the sporting goods industry. The British investment group has signed a binding agreement to acquire a majority stake in Vittoria Group, the bicycle tire ...
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ArticleWolverine to divest Keds and leather business, announces staff reductions
Driven by a focus on increasing long-term shareholder value, Wolverine Worldwide is divesting or licensing its Keds brand and Wolverine leather business segments and is initiating an unspecified headcount reduction. The staff cuts are projected to result in approximately $30 million in savings for the company in 2023, and the ...
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ArticleEquip regaining independence, announcing management changes
Fundamental changes to the Equip Outdoor Technologies UK Ltd. (Equip) company structure: the parent company of Rab and Lowe Alpine announced a multi-million BP financing package with British bank HSBC UK. The financial backing aims to enable Equip to repay investors, including long-time partner Mobeus VCTs, which is advised by ...
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ArticleSilva acquires Primus, Fenix Outdoor remains distribution partner for select markets
Swedish outdoor equipment company Silva, which was acquired by equity investor Verdane in 2021 with decisive expansion plans, has acquired 100 percent of the Primus AB shares from Fenix Outdoor (which also sold its brand Brunton at the end of last year). Source: Primus Both Silva ...
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ArticleCypad Group acquires majority stake in Pasasport
Since the entrance of the investor PM&Partners SGR S.P.A. in the Italian company Cytech S.r.l. (Cypad Group), which claims to be the world’s leading group for the production of seat pads in sportswear (cycling shorts, etc.) and glove pads, the focus has been on growth. Together, the companies have launched ...
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ArticleVF seeks new permanent CEO following Rendle’s decision to step down
Source: VF Corp. Benno Dorer, interim president and CEO of VF, effective immediately VF Corp. announced that Benno Dorer, lead independent director of the VF board of directors, has been appointed interim president and chief executive officer, effective immediately. Richard Carucci, who has served on the board ...
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ArticleClassified Cycling closes €22 million financing round
Bicycle components newcomer Classified Cycling has successfully closed another round of financing. With the entry of new investors, €22 million were flushed into the Belgian company’s coffers. With the cash injection, raised under the leadership of investment firm Active Partners, Classified aims to “revolutionize the bicycle and e-bike market with ...
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ArticleSchwan-Stabilo’s outdoor brands grow by 16.4%
The German Schwan-Stabilo group, the owner of Deuter, Ortovox, Maier Sports and Gonso, has published its 2021/22 business numbers, achieving growth in all of the group’s categories, which are cosmetics, writing instruments and outdoor sports. In the time span reported, the group generated sales of €745.3 million (previous year: €623.2 ...
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ArticleBike industry veteran Pat Cunnane named CEO of Messingschlager USA
Europe’s leading and expanding bicycle accessories supplier Messingschlager GmbH & Co. KG has been able to win over a high-profile industry expert. The German company, which acquired its longtime U.S. partner company – then called Cycle Force Group – and its subsidiaries at the end of 2021 and shortly thereafter ...
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ArticleCannondale’s new organizational structure without European head
Source: Cannondale Marco Kind After Canadian conglomerate Dorel Industries sold its Dorel Sports bicycle division – comprising Cycling Sports Group (CSG) and Pacific Cycle Group (PCG) – to Dutch company Pon Holdings B.V. last year, work has been underway to integrate the acquired brands. Cannondale, the U.S. ...
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ArticleMV Agusta shareholders and KTM AG inject €30 million
After listed Pierer Mobility AG officially announced on Nov. 3 that its subsidiary KTM AG (not to be confused with e-bike pioneer KTM Fahrrad GmbH) was taking a 25.1 percent stake in rival MV Agusta Motor S.p.A. as part of a capital increase, the Italians announced a €30 million capital ...
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ArticlePon.Bike commissions YIT Lietuva to build new factory in Lithuania
After 2L Architects UAB – the Lithuanian architectural firm responsible for the design of the new factory – received the building permit at the end of September, on Nov. 18, the Dutch bicycle company Pon.Bike officially commissioned the construction company YIT Lietuva to build the 40,000-square-meter facility in Lithuania’s Kėdainiai ...
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ArticlePentland Brands Germany undergoes restructuring, Berghaus with comeback
Source: Pentland Brands Germany Michael Schupp With the restructuring of Pentland Brands Deutschland GmbH, founded in 2020 in Gmund in southern Germany, which as an offshoot of the British Pentland Group also distributes the group’s Endura and Speedo brands in the DACH region, the well-known British mountain ...
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ArticleBosch invests specifically in the European production of eBike Systems
In mid-October, the Slovakian ministry of economy told the domestic press that Robert Bosch GmbH (Bosch Group) and its offshoot Robert Bosch spol sro (aka Bosch-Slovensko) would expand the Slovakia-based Electric Drive Division to produce e-bike components for its e-bike drive supplier Bosch eBike Systems and invest accordingly. Shortly after ...
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ArticleYakima with new global organizational structure
Yakima, a manufacturer of transportation and equipment management solutions headquartered in Oregon, USA, has announced that Ryan Martin, current CEO of the Americas region, will expand his responsibilities to also drive strategic direction and growth in Australasia (Australia, New Zealand and the adjacent Pacific Islands) and EMEA (Europe, Middle East ...
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ArticleWolverine lowers FY forecast again, unveils brand reorganization
Wolverine World Wide Inc. again lowered its full-year outlook after continuing supply chain constraints, increased promotional activity and deteriorating economic conditions weighed on third-quarter results, which came in below expectations. The company also announced a long-awaited reorganization of its brands to help cut costs and expand margins. Full-year revenue is ...
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ArticleItalmobiliare announces new Sidi CEO after takeover
Source: Sidi Sport Davide Rossetti, CEO Sidi Sport With domestic investment holding company Italmobiliare Holding S.p.A. (we reported in July) set to complete the acquisition of Italian cycling and motorcycle footwear icon Sidi Sport S.r.l. in the current fourth quarter of 2022 “at an enterprise value of ...
