Latest Corporate and M&A – Page 15
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ArticleExcavation work for new MBPS corporate headquarters in full swing
With the completion of the basic planning phase, the Magura Bosch Parts & Services (MBPS) joint venture formed by Magura and Bosch eBike Systems is starting construction work on the previously communicated new energy-efficient corporate head office. After completion of the excavation work, the start of the ...
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ArticleJack Wolfskin’s parent changes company name
Callaway Golf Company announced plans to change its corporate name to Topgolf Callaway Brands Corp. Following the company’s merger with Topgolf in 2021, “the name change reflects Callaway’s dynamic brand portfolio that has unmatched scale and reach across the full modern golf and active lifestyle ecosystem, including on- and off-course ...
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ArticleThredUp loses $28 million in Q2, may lay off 15% of workforce
California-based ThredUp Inc, a company operating in the apparel resale market that also provides a platform for third-party brands, announced its financial results for the second quarter ended June 30, 2022. Revenue increased 27 percent to $76.4 million, while active buyers increased 29 percent to 1.7 million. The gross margin ...
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ArticleArchroma acquires Textile Effects business from Huntsman
The Swiss chemical solutions company Archroma (part of the U.S.-based investment firm SK Capital Partners) has entered into a definitive agreement to acquire the Textile Effects business from Huntsman Corporation. Huntsman Textile Effects was in the OIC news lately for its new PFC-free water repellent. The total enterprise value of ...
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ArticleChange of ownership at family-owned bicycle supplier Stevens
Source: Stevens Stevens founders and brothers Wolfgang (left) and Werner von Hacht. As he reached the age of 65, company co-founder Wolfgang von Hacht retired from the management of Stevens Vertriebs GmbH. His 50 percent share in the German bicycle supplier, which once emerged from a Hamburg ...
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ArticleBombardier acquires majority stake in German bike transmission specialist Pinion
Pinion, a Stuttgart-based manufacturer of a fully sealed manual bike transmission “Made in Germany,” which is based on sports car gearbox technology, has gained a new strategic partner in the Canadian group Bombardier Recreational Products Inc. (BRP), which has also become a majority shareholder alongside the founders and managing directors ...
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ArticleVista Outdoor acquires Simms Fishing Products
Shortly after announcing its acquisition of Fox Racing, a California-based global provider of high-performance motocross, mountain biking and lifestyle gear, for at least $540 million, Vista Outdoor Inc. has now confirmed that it will also acquire Montana-based Simms Fishing Products. Simms is a premium fishing brand and leading designer, marketer ...
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ArticleNew association to support cycling start-ups in France
A new French trade association, called Cycling Tech France, has been launched to support national cycling start-ups, Sport-Guide has reported. The organization, established by Eric Dodin and Alexandre Rispal, gathered for its first official meeting on July 1. Based on Sport-Guide’s information, the association’s members currently include Ateliers Heritagebike, Caminade, ...
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ArticleElevate Outdoor Collective reorganizes global sales structure
Elevate Outdoor Collective (EOC), formerly K2 Sports, which includes the K2 Ski, K2 Snowboarding, Völkl, Marker, Dalbello, Line, Ride, BCA, Tubbs Snowshoes, Atlas Snowshoes, Madshus and K2 Skates brands, has announced a fundamental change to its global sales structure designed to support the growth of the independent brands. The change, ...
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ArticleVista Outdoor to acquire Fox Racing
Virginia-based Vista Outdoor Inc, the parent company of 39 sports and outdoor brands, announced it has entered into a definitive agreement to acquire Fox Racing, a global provider of high-performance motocross, mountain biking and lifestyle gear from Irvine, California. The purchase price is $540 million, with the possibility of earning ...
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ArticleMichael Sieber, Ortovox: “Family is essential”
In our interview with Michael Sieber, member of the Ortovox executive board, head of the new customer and brand division and head of sales, we learn more about the geopolitical situation, the internationalization of the company and why family is so important in a healthy work environment.
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ArticleJack Wolfskin acquires Polish distributor, establishes central hub for Eastern European growth
Jack Wolfskin has acquired its 24-year distributor for Poland, FAM Sp.K., strengthening its newly formed company Jack Wolfskin Poland Sp. z o.o., based in Gdynia near Gdansk, to bolster the brand’s presence in the fast-growing Polish market. The subsidiary will also serve as a strategic hub for all of Eastern ...
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ArticleThe Lycra Company taken over by creditors
A group of financial institutions, including Lindeman Asia and Lindeman Partners Asset Management, has assumed full capital control of The Lycra Company.
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ArticlePorsche Ventures invests in London-based bicycle insurance provider
Laka, a London-based bicycle insurance provider that announced a $12 million Series A round earlier this year, has secured additional funding from Porsche Ventures, the venture capital unit of Porsche AG, bringing the total round to $13.5 million. The Series A funding was initially led by Autotech Ventures, followed by ...
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ArticleUSWE acquires Oregon-based Giant Loop, opens U.S. subsidiary
Swedish company USWE Sports AB has agreed to acquire U.S. companies Giant Loop LLC and Armadillo Bag LLC, among the most successful brands in the soft-bag segment for the off-road market in the U.S. The fixed acquisition price totals approximately $3 million, of which roughly $1.5 million will be paid ...
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ArticleIsbjörn reports consistent, sustainable growth
Swedish outdoor children’s apparel brand Isbjörn of Sweden has announced 20 percent year-over-year global growth through April 2022. Isbjörn was recently acquired by Online Brands Nordic AB, which will provide a solid financial backbone for further sustainable growth, and reported a healthy Ebitda of more than 11 percent. Isbjörn is ...
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ArticleVittoria Group and A Dugast open new regional headquarters in the Netherlands
Right after the acquisition of A Dugast by the Vittoria Group in May 2021, there were considerations on how best to join forces and exploit synergies. On June 15, the two bicycle tire suppliers inaugurated the new headquarters of Vittoria Northern Europe and A Dugast in Oldenzaal, the Netherlands. This ...
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ArticleMips presents new strategy and updated financial targets
At Capital Market Day 2022 in Stockholm on June 9, Swedish helmet technology and “Brain Protection System” (BPS) manufacturer Mips AB unveiled its new long-term strategy with updated financial targets and strategic priorities for the coming years. The reason for revising the company’s strategy and long-term financial targets is not ...
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ArticleSSU partners with Rhenus on “largest bicycle components hub in Europe”
Signa Sports United (SSU) announced a strategic partnership with Rhenus Warehousing Solutions and the opening of a new state-of-the-art SSU warehouse. The newly built 20,000-square-meter facility, which SSU says is the largest bicycle parts hub in Europe, is strategically located in Hockenheim, Germany, with excellent distribution channels to several European ...
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ArticlePorsche takes over remaining 80 percent in Fazua
Porsche AG seemed to like what it saw when it acquired a 20 percent minority stake in fledgling e-bike drive manufacturer Fazua GmbH in January 2022. The German sports car maker now announced it will acquire the remaining 80 percent. No details were provided about the sale price. The Stuttgart-based ...
