Latest Corporate and M&A – Page 2
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ArticleRenewcell files for bankruptcy
After the Swedish textile recycler postponed its annual report for the second time for economic reasons, the Board of Directors decided on Feb. 25 to file for bankruptcy of Re:NewCell AB (Renewcell). The bankruptcy petition will be filed with the Stockholm District Court. The reason for the decision to file ...
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ArticleCake files for insolvency, administrator seeks buyer for business operations
What several Swedish media outlets have already reported has just been confirmed by both the appointed insolvency administrator and on the website of the Swedish manufacturer of electric motorcycles itself: On Feb. 1, Cake 0 Emission AB had to file for insolvency. Lawyer Jakob Callmander from the Stockholm-based law firm ...
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ArticleSea to Summit acquires Cirdan, bolsters presence in Scandinavia
Australian adventure brand Sea to Summit Pty Ltd has announced the acquisition of Cirdan AS, its current distribution partner in Norway, Sweden and Finland, effective Feb. 1, 2024. Cirdan has a head office in Lorenskog, Norway, a sales office in Stockholm, Sweden, and an agent office in Helsinki, Finland and ...
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ArticleRevelyst provides ‘GEAR Up’ transformation update, closes offices and consolidates teams
Revelyst, the segment of Vista Outdoor Inc. that will become a stand-alone public company later this year, announced an update on its “GEAR Up” transformation initiative (the title refers to the future ticker name “GEAR” of Revelyst on the New York Stock Exchange). As part of the spin-off process, Revelyst ...
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ArticleBelgian-German partnership for large-scale production of thermoplastic carbon bicycle frames
The young Belgian carbon frame expert REIN4CED N.V. has announced a closer strategic partnership with the German mechanical and plant engineering expert Dieffenbacher GmbH Maschinen- und Anlagenbau to accelerate the large-scale production of thermoplastic carbon bicycle frames. The partnership aims to deepen the integration of product and machinery development. This ...
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ArticleAccell Group relocates production and cuts jobs
After announcing the relocation of the production of the German Accell brand Ghost in Waldsassen to the Accell production sites Accell Hunland Kft. in Hungary and Accell Bisiklet Sanayi ve Ticaret A.S. in Turkey late last year, the Accell Group is now planning further measures to streamline the operating model ...
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ArticleUnifi announces profitability improvement plan, executive promotions
Unifi, a Greensboro, North Carolina-based manufacturer of recycled and synthetic yarns, including Repreve, announced that it has begun implementing a new Profitability Improvement Plan focused on further reducing the company’s costs, streamlining operations and investing in innovation. Unifi’s Profitability Improvement Plan includes a cost reserve and workforce reduction that is ...
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ArticleYeti acquires Mystery Ranch
Texas-based outdoor company Yeti Holdings, Inc., maker of coolers, hydration solutions and bags, has signed an agreement to acquire Montana-based backpack specialist Mystery Ranch. “[Mystery Ranch’s] ethos, passion and people not only align with the Yeti team, but also connect well with our commitment to innovation and our customers,” commented ...
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ArticleSBTi gains charitable status in UK, doubles corporate climate validations and ramps up pace
The number of companies and financial institutions setting greenhouse gas reduction targets and having them validated by the Science Based Targets Initiative (SBTi) has doubled to 4,204 in 2023 (2022: 2,079). This extraordinary demand for corporate decarbonization standards and target validation services has prompted a major scale-up effort to rapidly ...
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ArticleGerman bicycle tire supplier relocates production to Vietnam
Schwalbe manufacturer Ralf Bohle GmbH is strategically realigning its production: All bicycle tires and inner tubes will be produced exclusively in Vietnam in the future. Only mold making, mixing operations, R&D and administration will remain at the long-standing Schwalbe production site in Indonesia. The move is justified by the development ...
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ArticleCrow Bicycles bolsters int'l DTC with DACH area manager and physical presence in Germany
Madrid-based ultralight e-bike brand Crow Bicycles, founded in 2020 and launched in 2021, announced the hiring of Gert-Jan Van Wijk as Market Manager for the German, Swiss and Austrian (DACH) markets. In these countries, Van Wijk will lead the company’s commercial strategy from Feb. 1 to consolidate the brand at ...
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ArticleIcletta returns DACH distribution and assembly to Ice Trikes
Over 15 years ago, the German company Icletta GmbH began exclusively distributing the British recumbent trike manufacturer Inspired Cycle Engineering (Ice Trikes) in the DACH region. The two companies have now jointly decided to gradually relocate on-site assembly, which Icletta previously carried out at its headquarters in Weiterstadt, Germany, to ...
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ArticleMondraker opens US branch in Colorado
Spanish premium off-road bicycle brand Mondraker announced the opening of a subsidiary in the USA at the beginning of the year. The new Mondraker-USA office is located in Boulder, Colorado. The official inauguration of the new offices and warehouse, as well as the customer and technical service areas, will be ...
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ArticleWolverine Worldwide on FY course, Merrell to grow beyond trail
Wolverine World Wide, Inc. provided an update on its preliminary, unaudited financial results for FY 2023 and its ongoing transformation efforts ahead of its presentation at the 2024 ICR Conference this week. “We’re executing the stabilization phase of our strategic transformation with tremendous pace while redesigning Wolverine Worldwide for the ...
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ArticleCreditors approve Advanced Sports’ restructuring plan
After the German sales company Advanced Sports GmbH (aka Advanced Sports Europe) slipped into self-administered insolvency on April 1, 2023, due to the challenging market and consumer sentiment, it was reported in mid-September that all parties involved in the proceedings (while business operations continued) were confident that the restructuring process ...
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ArticleClarus sells Precision Sport segment
Salt Lake City-based Clarus Corp., the parent company of the outdoor and overlanding brands Black Diamond, Rhino-Rack, Maxtrax and Tred Outdoors, announced on Dec. 29, 2023, that it has entered into a definitive purchase and sale agreement to sell its Precision Sport segment, which consists of the company’s Sierra Bullets ...
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ArticleSuccessful reorganization and realignment of Pierer subsidiary Syntace
Syntace GmbH, the umbrella company for the Syntace brand, a manufacturer of high-quality bicycle components, and Liteville, a manufacturer of high-end bikes, primarily in the mountain bike segment, has successfully completed a comprehensive restructuring since Pierer Industrie AG (PIAG) took over the majority rights in 2022. The ...
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ArticleKSR Group’s future is secured
Following the decision of the Krims District Court to lift the external administrative proceedings at the insolvent Austrian two-wheeler giant KSR Group GmbH, the path for a fresh start is now clear. The creditors’ meeting had previously approved the restructuring measures by a large majority. On Dec. 20, the restructuring ...
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ArticleEquip denies rumors about a possible sale of Rab
An announcement in late November that Matt Gowar was stepping down as CEO of Equip Outdoor Technologies UK Ltd has apparently caused some confusion in the media world. At the end of last week, rumors emerged in renowned media that the Rab brand was to be sold. Equip responded already ...
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ArticleChinese investment company buys Haglöfs
After the rumors were already in full swing at ISPO Munich in November, it has now been confirmed that the Swedish outdoor brand Haglöfs has a new owner: Hong Kong-based venture capital firm LionRock Capital acquired the brand from Japanese sports manufacturer Asics on Dec. 18, 2023. ”Throughout our ...
