Latest Corporate and M&A – Page 6
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ArticleSpanish bike-rental outfit has big plans
Rookfy, a bicycle-rental platform in Spain, enjoyed a satisfactory debut last year, according to chief technology officer Santiago Alonso, who spoke with CMDsport. The young company has recently added the retailer Escapa to its marketplace and joined the Spanish Association of Brands and Bicycles (Ambe). In an interview with Joanseguidor.com, ...
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ArticlePon.Bike celebrates groundbreaking in Lithuania
In early 2022, the Dutch mobility group Pon Holdings B.V. announced plans to invest in the construction of a new state-of-the-art bicycle and e-bike production facility in Lithuania. In September 2022, it was confirmed that, despite all the odds of our times, they were on schedule to open in 2024. ...
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ArticleCanada Goose aims to have up to 150 stores and $3 billion in sales by 2028
After reporting slightly weaker third-quarter numbers earlier this month, Canada Goose, founded in 1957 in a small warehouse in Toronto, Canada, announced not only its five-year financial goals but also an update on its strategic priorities at its Investor Day on Feb. 7, 2023, at the company headquarters. “Today, Canada ...
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ArticleSRAM Group commits to building a new plant
Source: SRAM Group According to the plan, the new modern SRAM Group production facility in Taichung should start in 2024. For more than three decades, US component supplier SRAM Group has relied on Taiwan for its production. After all, the island nation committed itself many years ago ...
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ArticleGiant Group acquires minority stake in Stages Cycling
According to two filings published on the Taiwan Stock Exchange (TWSE), the country’s largest bicycle manufacturer, Giant Manufacturing Company Ltd (a.k.a. Giant Group – Cadex, Giant, Liv, Momentum brands), has acquired a minority stake in U.S.-based indoor cycling and professional cycling training expert, Stages Cycling LLC. Following the approval at ...
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ArticleEmerald acquires U.S. organizer of Overland Expo Series
Trade show organizer Emerald Holding, Inc, responsible for the U.S. trade show Outdoor Retailer, among others, has acquired all assets of Lodestone Events, a U.S. event production company that owns and operates the Outside Adventure Expo and Overland Expo event series. According to an official statement, the acquisition supports “Emerald ...
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ArticleSolo Brands eyes deeper assortments with wholesale partners
The publicly traded Grapevine, TX company, which owns four businesses led by its Solo Stove unit, has a Direct-To-Consumer to Wholesale ratio of 85 to 15, a percentage that is likely to persist given Solo’s extreme focus on its relationship with customers. But Solo has a new partnership with warehouse ...
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ArticleHelen of Troy making three organizational changes
Helen of Troy, the parent of Osprey and Hydro Flask, is undergoing three organizational changes and shrinking its global workforce by about 10 percent, with most staff reductions completed before March 1. Most notably, the group has decided to merge its Health & Wellness and Beauty segments, centralize its global ...
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ArticleGerman bicycle manufacturer Prophete files for insolvency proceedings
On Dec. 20, the renowned German bicycle manufacturer Prophete GmbH & Co. KG filed a petition to open insolvency proceedings (file number 43 IN 777/22). The court appointed Manuel Sack of nationwide law firm Brinkmann & Partner as Prophete’s provisional insolvency administrator. Between Dec. 20 and 23, the following entities ...
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ArticleOberalp Group begins construction of new Pomoca headquarters
Source: Oberalp Group Artistic illustration of the new production facility of Pomoca The South Tyrol-based Oberalp Group has laid the foundation stone for the new production facility of its Pomoca brand. The new headquarters are now under construction at the foot of Mount Suchet in Chavornay (Vaud), ...
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ArticleIcebreaker’s Josh Vaughan: “We can take market share from the synthetic base”
Icebreaker’s General Manager EMEA talks about how he wants to increase the share of natural fibers, how Icebreaker needs to be positioned, and which decision in the past was a mistake.
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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 ...
