News Briefs
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News briefsSwiss Stromer and US bike fintech offer e-bike leasing in the US
Stromer, the Swiss e-bike technology pioneer, has partnered with Colorado-based The Sweet Spot, a bicycle fintech company, to offer long-term e-bike leasing and management in the US. This new leasing option makes Stromer’s premium Class 3 commuter e-bikes accessible to even more riders, supporting the brand’s mission to shape the ...
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News briefsGSM Outdoors buys another fishing rod manufacturer
Following the purchase of Phenix Rods last December, GSM Outdoors has now signed an agreement to acquire Mid-America Rod Company, its second brand in the fishing rod segment, for undisclosed terms. Mid-America Rod Company has been manufacturing rods in the USA since 1976. In addition to its own Virtus brand, ...
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News briefsMultiple purchase bids to save Renewcell
The Renewcell bankruptcy trustee has confirmed that “multiple bids” have been made for the business and assets of Swedish textile recycler Re:NewCell AB (Renewcell). The deadline for receiving purchase offers was March 28. These offers will now undergo a review process, with final closing expected in mid-April. The Board ...
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News briefsCFIUS accepts re-filed notification of Vista's proposed sale of Kinetic Group
Vista Outdoor Inc. and Czechoslovak Group a.s. (CSG) announced on March 28 that they have voluntarily withdrawn and resubmitted their joint voluntary notification to CFIUS, the United States’ foreign investment review agency, to give CFIUS more time to review CSG’s proposed acquisition of Vista Outdoor’s The Kinetic Group business. With ...
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News briefsFahrrad.de founder takes over key assets of insolvent Internetstores
In mid-January, insolvency administrator Dr. Christian Gerloff informed the creditors that several interested parties had made binding offers to take over the insolvent bicycle and outdoor e-commerce retailer Internetstores GmbH – not for the entire group but for individual assets. The core sales platforms Fahrrad.de and Bikester, as well as ...
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News briefsCanada Goose to reduce workforce
Canada Goose will cut approximately 17 percent of its staff, or 900 jobs, as part of its ongoing transformation program aimed at reducing costs while achieving the company’s strategic goals. As part of the reorganization, Carrie Baker, currently President of Brand and Commercial, will assume responsibility for Design, while Beth ...
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News briefsVista Outdoor confirms receipt of renewed offer from MNC Capital
Vista Outdoor Inc. confirmed on March 25 that it received a revised unsolicited expression of interest from Montréal-based MNC Capital expressing MNC’s interest in acquiring Vista Outdoor in an all-cash transaction at a price of $37.50 per share. On March 4, 2024, Vista Outdoor’s board of directors rejected an unsolicited ...
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News briefsGerman outdoor retailer McTrek files for insolvency again
German retailer McTrek (most recently with 17 stores in Germany) filed for insolvency at the Hanau District Court on March 11. This is the second insolvency in just four years for the outdoor specialist, which has been operating for over 20 years. Following the first insolvency in 2020, the company, ...
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News briefsInfinited Fiber closes new funding round
Infinited Fiber Company, the Finnish textile recycler currently in a restructuring phase, has completed a two-part development funding round totaling €40 million. The round included investments from both existing and new investors, the latter including Inditex, TTY Management, Youngone and Goldwin. The first part of the development financing round, which ...
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News briefsSpinnova and Suzano sign agreement for new production facility
Finnish biomaterials company Spinnova and Suzano have signed a Letter of Intent (LOI) regarding plans for a new production facility for wood-based Spinnova fiber. The LOI is a non-binding agreement that includes certain criteria as requirements for moving into the pre-engineering phase of the new facility. It also includes preliminary ...
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News briefsNaturkompaniet acquires Regntøyspesialisten
As part of its further expansion in Norway, the Sweden-headquartered outdoor retail chain Naturkompaniet has acquired 100 percent of the shares in Regntøyspesialisten AS in Kristiansand. The acquisition is part of Naturkompaniet’s strategy to expand its offering and strengthen its position in the outdoor industry in Norway. Naturkompaniet is a ...
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News briefsGerber Gear celebrates its 85th anniversary
Gerber Gear commemorates 85 legendary years of American-made craftsmanship and innovation in Portland, Oregon. As a local advertising agency founder and owner, Joe Gerber wanted to design a carving knife he could gift to his clients. This one-off gift became a highly sought-after knife, and from those humble beginnings, Gerber ...
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News briefsFenix Outdoor acquires 30% of its Czech retail partner
Fenix Outdoor, the international outdoor equipment and apparel company based in Zug, Switzerland, since 2014 but listed on the Stockholm Stock Exchange due to its Swedish roots, has acquired a 30 percent stake in Arctic Fox s.r.o., its retail partner operating six Fjällräven stores and an online business in the ...
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News briefsFrasers Group revives Wiggle in strategic acquisition deal
Frasers Group, the parent company of Sports Direct, has made a strategic move with the acquisition of online bike retailer Wiggle and saved the company from insolvency following the collapse of Signa Sports United (SSU). The acquisition expands Frasers Group’s already diverse portfolio of cycle brands, which includes Evans Cycles ...
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News briefsSamsonite looks at options after reported takeover interest
Samsonite, the parent company of Gregory, High Sierra, Xtrem and other luggage and bag brands, is considering options, including going private after receiving a takeover offer from undisclosed bidders, Bloomberg reports, citing sources said to be familiar with the matter. Some private equity firms have reportedly analyzed a deal with ...
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News briefsMystery Ranch partners with Vallfirest on forest fire management in the EU
Mystery Ranch, the Montana-based backpack specialist just acquired by Yeti, announces a partnership with Vallfirest, a company specialized in the manufacturing of equipment, tools, and solutions for the extinguishing and prevention of wildfires, to jointly contribute to global wildfire management solutions. As part of this partnership, Mystery Ranch’s firefighting products ...
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News briefsBMC tests short-time work during weak market conditions
Several brands from Central Europe have been struggling after the pandemic. BMC is the latest, as the Swiss bicycle market is also facing hard times. Due to the drop in demand, the company has applied to the Canton of Solothurn’s office for economic and labor affairs for short-time work as ...
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News briefsKú Cycle seeks to raise €200,000 via crowdfunding campaign
Triathlon bike specialist Kú Cycle seeks to raise €200,000 via a crowdfunding campaign on Crowdcube. At the time of writing, the company has raised €142,000. Customers are offered a pre-purchase bike fit and build-to-order business model. The company has a granted patent for the Fork Air Stream Technology (FAST), which ...
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News briefsInfinited Fiber faces layoffs as part of its restructuring efforts
Finland-based textile technology specialist Infinited Fiber has adjusted its cost and organizational structure as part of its restructuring efforts. According to the company, the negotiations, which have now been completed, have resulted in both temporary layoffs among the staff of Infinited Fiber Company Oy and Infinited Fiber Kemi Oy and ...
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News briefsColorado ski brand acquired by US real estate developer
Chase Gardaphe, an American real estate developer focused on developing and managing manufactured housing communities, has acquired Romp Skis, a Colorado-based custom ski brand. Romp was originally founded by Morgan and Caleb Weinberg in 2010 and has grown exponentially over the past decade. Gardaphe will continue to expand operations at ...
