News Briefs – Page 3
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News briefsDaiwa USA moves to larger facility in California
The fishing tackle brand Daiwa has moved into a new office and warehouse complex in Foothill Ranch, California. The new location, which features 20 truck bays dedicated to inbound and outbound shipping, doubles the space and capacity to ship products. The added square footage also enables Daiwa to have a ...
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News briefsNewell restructures again
Newell Brands, the parent of Marmot, Coleman, Contigo and other outdoor brands, will spend up to $90 million as part of a renewed reorganization that will cut about 7 percent of its office jobs, with most of the costs and reductions occurring by the end of the year. The reorganization ...
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News briefsRenewcell ends 2023 with slight upward trend
After a rather difficult year overall, Swedish textile recycling company Renewcell reported better, albeit not outstanding, sales for last month (Dec. 1-31, 2023), although it continues to struggle with the lack of product demand. The company said it produced about 818 tons of prime-quality dissolving pulp. About 1,000 metric tons ...
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News briefsAmer files registration statement with SEC for projected IPO
Finnish Amer Sports, Inc., which includes the Arc’teryx, Salomon, Wilson, Peak Performance and Atomic brands, among others, announced on Jan. 4, 2024, that it has filed a registration statement on Form F-1 with the U.S. Securities and Exchange Commission for a proposed initial public offering of its common stock. The ...
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News briefsAluula announces short-term loan
Canadian materials technology company Aluula Composites Inc. has announced that its wholly owned subsidiary Aluula Composites Canada Inc. has obtained a $1,000,000 term loan from a non-contracting party. The loan bears interest at 12 percent per annum and is due and payable on July 1, 2024. The company intends to ...
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News briefsBergfreunde takeover finalized
As previously reported, the French sporting goods manufacturer and retailer Decathlon S.E. signed a purchase agreement in late November with the US outdoor retailer Backcountry to acquire the German mountain sports, climbing and outdoor e-commerce retailer Bergfreunde GmbH. It has now been officially announced that the transaction was completed and ...
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News briefsUSWE enters liquidity guarantee agreement with Pareto Securities
USWE Sports AB, the Swedish parent company of USWE, Void Cycling and Giant Loop, has entered into a liquidity guarantee agreement with Oslo-based Pareto Securities AB. Pareto Securities will assume the function of liquidity provider on Jan. 2, 2024. The obligation takes place within the framework of Nasdaq First North ...
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News briefsInfinited Fiber starts cooperation negotiations with employees
Finland-based textile technology specialist Infinited Fiber said it started cooperation negotiations at the end of December concerning the personnel of the parent company Infinited Fiber Company Oy and its subsidiary Infinited Fiber Kemi Oy. The aim of the talks is to find solutions to adapt the company’s cost structure and ...
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News briefsRapala divests injection molding business
Finnish fishing tackle manufacturer Rapala VMC Corporation has sold its entire injection molding business to Muottituote Group Oy, a Finnish manufacturer of molds and injection molded parts, in an agreement signed on Dec. 22, 2023. With the transaction, Muottituote acquired the real estate of Rapala VMC’s subsidiary KL-Teho Oy in ...
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News briefsBleed enters insolvency
Despite intensive efforts, Bleed has not been able to find a solution for its continuation to date, the company announced in a newsletter issued shortly after Christmas. As a result, the sustainable outdoor brand from southern Germany will be insolvent from January 2024. Since the team around owner Michael Spitzbarth ...
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News briefsRenewcell secures €9m capital injection for short-term liquidity
Swedish textile-to-textile recycling company Renewcell has entered into two short-term loans with its main shareholders, H&M Fashion AB and Girincubator AB, and – through waivers and amendments to the company’s existing financial agreements – with its existing lenders BNP Paribas, European Investment Bank (EIB), Nordea Bank Abp and AB Svensk ...
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News briefsRapala buys remaining shares in DQC International, takes over 13 Fishing
Rapala VMC has acquired James Coble’s remaining 40 percent stake in DQC International, the owner of the 13 Fishing rod and reel brand. The Finnish company, which has been distributing 13 Fishing rods and reels outside the US for almost four years, had increased its stake in DQC to 60 ...
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News briefsCoDi receives $75.2m equity investment
Compass Diversified (CoDi), the Connecticut-based owner PrimaLoft, Boa Technology, 5.11 and Velocity Outdoor, completed a $75.2 million private placement offering of approximately 3.6 million of its common shares to an Allspring Global Investments mutual fund for $21.18 per share. “We are thrilled to receive this substantial investment from Allspring,” commented ...
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News briefsHövding files for bankruptcy
The Board of Directors of Hövding Sverige AB has decided to file for bankruptcy. The bankruptcy application has been submitted to Malmö District Court on December 21, 2023. As reported before, the reason for the bankruptcy application is that the Swedish Consumer Protection Agency on Nov. 1, 2023, imposed a ...
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News briefsGSM Outdoors enters fishing rod market
GSM Outdoors has announced the acquisition of US-based company Phenix Rods. The move marks GSM’s entrance into the fishing rod world. Established in 1977, Phenix produces rods for both the freshwater and saltwater markets. GSM Outdoors, headquartered in Irving, Texas, is home to more than 40 hunting, shooting sports, rugged ...
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News briefsHövding’s situation appears to worsen
After the Swedish Consumer Protection Agency imposed a sales ban for the Hövding 3 (OIC reported) via Hövding’s own channels, the agency followed up last Friday: The Hövding 3 is now being recalled throughout Sweden, and a general sales ban has been imposed in the country. Hövding has announced that ...
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News briefsVista and CSG receive antitrust clearance for proposed merger
Vista Outdoor and Czechoslovak Group (CSG) announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 has expired. As previously reported, Vista Outdoor entered into an agreement and plan of merger on Oct. 15, pursuant to which Vista has agreed to sell its Sporting Products business to ...
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News briefsRapala implementing new three-year strategic plan
Finnish fishing tackle supplier Rapala VMC reported that it will be implementing a new strategy over the next three years. The effort will be undertaken by the global fishing tackle company’s new global management team, focusing on improving the group’s profitability and working capital management. The changes on Rapala’s ...
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News briefsVista Outdoor completes CEO transition, two co-CEOs
As part of the previously announced company split and the acquisition of the ammunition business by Czechoslovak Group a.s. (CSG), Vista Outdoor has appointed Eric Nyman and Jason Vanderbrink as co-CEOs, according to an SEC filing. They succeed Gary McArthur, who had been interim CEO of the company since November ...
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News briefsShimano stolen data have been leaked online
Shimano suffered a ransomware attack earlier in November. Hackers from the LockBit group threatened at the time to publish 4.5 TB of confidential data unless the Japanese firm paid a ransom, as first reported by Escape Collective. Now, a vast trove of stolen Shimano data has been leaked online, according ...
