Latest Corporate and M&A – Page 3
-
ArticleAutomotive supplier SEG relies on BH for its e-bike motor debut
With SEG Automotive Germany GmbH, another leading automotive supplier is turning its attention to the bicycle segment. The first OEM customer of its e-bike motor, designed, developed and produced in Europe, is the Spanish bicycle manufacturer BH Bikes Europe S.L. The first BH e-bikes with SEG mid-mounted motors will be ...
-
ArticlePierer Mobility announces sharpened strategy, sells non-e-bike business
The Executive Board of Pierer Mobility AG has announced its strategic decision to focus even more intensely on the core business of Powered-Two-Wheelers (PTW; motorcycles and e-bikes). One of the consequences is the sale of the non-e-bike division, which has already been initiated. In addition to the sale of the ...
-
ArticleInsolvent WiggleCRC’s new business model focuses on the UK
In the wake of the insolvency of Signa Holding, the British subsidiary WiggleCRC of Signa Sports United (SSU) also had to file for insolvency on Oct. 24. The appointed administrators Anthony John Wright and Alastair Rex Massey of London-based management and restructuring consultancy FRP Advisory have now announced a new ...
-
ArticleBergfreunde changes ownership
Bergfreunde GmbH, the German online specialist retailer for mountain sports, climbing and outdoor equipment, has a new strategic partner: French sporting goods manufacturer and retailer Decathlon is acquiring the German company from US outdoor retailer Backcountry. The purchase agreement was signed on Nov. 24, 2023. The completion of the transaction ...
-
ArticleDevold: 170 years of wool garments made in Europe
The Outdoor Industry Compass spoke with Herbert Horelt, Managing Director of Devold of Norway GmbH, and Tor Jonsson, General Manager at UAB Devold.
-
ArticleHarley-Davidson’s e-bike offshoot Serial 1 changes hands
The e-bike supplier Serial 1 Cycle Company, founded by the iconic US motorcycle manufacturer Harley-Davidson in 2020, has been sold to LEV Manufacturing. This provider of light electric vehicles (LEV) focuses on US production “using processes from the free trade zone with a US certificate of origin.” The purchase price ...
-
ArticleBleed enters provisional insolvency
In a letter to his loyal customers and in a German-language video (below), Michael Spitzbarth, owner of the sustainable outdoor brand Bleed, explains that his company, which he founded 15 years ago, has had to file for provisional insolvency despite all attempts to avoid this situation. “The sum of many ...
-
ArticleNorrøna opens new headquarters in Lysaker
Norrøna, the Norwegian family-owned outdoor apparel and adventure travel company, unveiled its brand new global headquarters in Lysaker, Norway, on Nov. 8. The brand welcomed a host of international guests to the opening of the 3,000-sqm building, which includes Norrøna’s largest and most immersive store to date, a flexible, modern ...
-
ArticleSSU: What has happened so far – and what may still come
In a joint statement, the two insolvency administrators appointed, Dr. Christian Gerloff from the Munich law firm Gerloff-Liebler Rechtsanwälte and Stefan Meyer from Ulm-based Pluta Rechtsanwalts GmbH, point out that the operational business of the two insolvent Signa Sports United (SSU) spin-offs Tennis-Point GmbH and Internetstores GmbH (alias Internetstores Group, ...
-
ArticleMarucci Sports sold to Fox Factory
Compass Diversified (CoDi), the Westport, Connecticut-based owner of several sporting goods brands, including Boa Technology, 5.11, PrimaLoft and Velocity Outdoor, announced that it has entered into a definitive agreement to sell its majority-owned subsidiary Wheelhouse Holdings, Inc, the parent company of Marucci Sports, to publicly traded suspension and suspension expert ...
-
ArticleWSF extends existing crowdinvesting campaign
In August, Austrian bicycle and e-bike contract manufacturer WSF Bicycle Technology GmbH launched a crowdinvesting campaign on crowdfunding platform Conda with a funding target of €400,000. The company, which was founded in 2020 and is based in Regau, Upper Austria, plans to use the money to increase its production from ...
-
ArticleWave of insolvencies at SSU seems unleashed
While Signa Sports United (SSU) offshoot Internetstores GmbH (Addnature, Bikester, Brügelmann, Campz, Fahrrad.de, Probikeshop) is said to have informed its suppliers of impending insolvency in self-administration and British affiliate WiggleCRC is believed to have done the same in its home country, German Tennis-Point GmbH has already filed for insolvency on ...
-
ArticleSigna Holding sells Sport Scheck to British Frasers Group
On Oct. 17, Signa Retail Department Store Holding GmbH announced the sale of the German sporting goods chain SportScheck to British sporting goods and fashion retailer Frasers Group. Frasers runs, among other brands, Europe’s largest retailer of sports and fitness footwear, apparel and equipment, Sports Direct. No details were given ...
-
ArticleVF investor pushes for turnaround plan
In a presentation, California-based activist investor Engaged Capital outlined that the parent company of Vans, The North Face (TNF), Timberland, Supreme and others is suffering from bloated overhead that is driving down shareholder value and called for a more detailed turnaround plan for VF Corp. It said that the overhead ...
-
ArticleLargest SSU shareholder cancels equity commitment
Shortly after deciding to delist from the NYSE, Signa Sports United (SSU) announced that it had received a termination notice regarding the unconditional equity commitment letter from Signa Holding GmbH, a privately held Austrian real estate and retail company and a subsidiary of the company’s largest shareholder, Munich-based Signa International ...
-
ArticleVista Outdoor divests Sporting Products business for $1.91bn
Vista Outdoor has agreed to sell its Sporting Products business to Czechoslovak Group a.s. (CSG) for an enterprise value of $1.91 billion. The transaction is subject to customary closing conditions. This transaction is the next step in Vista Outdoor’s plan to split the business into separate entities, previously announced on ...
-
ArticleVittoria opens cotton bike tire factory in Bangkok
Italian bicycle tire specialist Vittoria has opened a new factory in Thailand for the production of cotton bicycle tires. This €20 million investment will expand the Vittoria Tyres Thailand (VTT) factory site from 36,000 to 51,000 sqm in the Bangpoo industrial area, near VTT’s current headquarters. The 10,000 sqm facility ...
-
ArticleVista Outdoor unveils name for outdoor products segment
Having already announced the new name of its Sporting Products segment (The Kinetic Group) last August, Vista Outdoor Inc. has now revealed the name and identity of its Outdoor Products segment following the planned separation of the group: Revelyst, Inc. The new Outdoor Products company will trade on the New ...
-
ArticleInov-8 rebrands for the first time in 20-year history
Founded in 2003 in the mountains of northern England, the running, hiking and fitness brand Inov-8 is undergoing its first rebrand. To mark the milestone of two decades, the company has now unveiled a new look with the new wordmark “INOV8.” The new name and logo will first appear on ...
-
ArticleSSU delists from NYSE, new CEO
After assuming earlier this year that the worst of the market disruptions were over, Signa Sports United N.V. (SSU), the Berlin-based sports e-commerce specialist, has now announced an acceleration of its strategic realignment and performance improvement program. Ahead of putting its Q3 numbers on the table, the company is ...
