News Briefs
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News briefsWolverine Worldwide aims for greater internationality with new license deals
Wolverine Worldwide has inked two new global licensing deals as part of its strategic evolution into a brand-focused growth entity. Vida Shoes International will take on the role of global licensee for Merrell and Saucony kids footwear under the first agreement. This partnership grants Vida rights to these products across ...
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News briefsRevelyst reschedules investor day to early fall
Revelyst, the outdoor segment of Vista Outdoor Inc., has announced that the company will postpone its investor day. The change comes in light of the Vista Outdoor Board of Directors’ recent decision to postpone the date of its planned shareholder vote in connection with its third-party investment in the company. ...
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News briefsAmer sells its Enve bicycle brand
Amer Sports is selling US-based Enve Composites, a manufacturer of carbon bicycle frames, wheels and components, and more recently cycling apparel, to Utah-based private investment firm PV3, led by entrepreneur and cycling enthusiast Mark Hancock, for an undisclosed price. The deal is expected to close in the coming weeks. Enve’s ...
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News briefsCompass Diversified divests Crosman
Connecticut-based Compass Diversified (CoDi), the owner of owner PrimaLoft, Boa Technology, 5.11 and Velocity Outdoor, has reached an agreement to sell Crosman Corp., the airgun division of its Velocity Outdoor subsidiary, to Arkansas-based Daisy Manufacturing Co. Financial terms of the transaction for the parent of the Crosman, Benjamin, Game Face, ...
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News briefsDometic awning production returns to Indiana
After moving its manufacturing operations from its Elkhart, Indiana, facility to other locations in North and South America in early 2022, Dometic has now announced that it is bringing production and distribution back to the site. Awning production will resume in May at the plant on Industrial Parkway in Elkhart ...
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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 ...
