Shimano 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 ...
Vista Outdoor declines unsolicited offer
Vista Outdoor’s Board of Directors, following consultation with its financial and legal advisors, has rejected the unsolicited proposal received on Nov. 22, 2023 from Colt CZ Group SE. The Vista Outdoor Board continues to recommend the acquisition of the Sporting Products business by Czechoslovak Group a.s. (CSG) and remains committed ...
Vista Outdoor receives unsolicited second bid for acquisition of Sporting Products business
Vista Outdoor reports that it has received an unsolicited proposal from Prague-based Colt CZ Group SE to combine Colt CZ and Vista Outdoor in a cash and stock transaction that Colt CZ said would attribute a value of $30 to each share of Vista Outdoor common stock.
Rapala issues €30m in hybrid capital securities
The group will use the proceeds from the three-year financial instrument, which has debt and equity characteristics, for general corporate purposes and to strengthen its financial flexibility. Rapala VMC’s largest shareholder, Viellard Migeon Et Compagnie, subscribed to 24 percent, or €7.2 million, of the hybrid securities with an annual interest ...
Rapala plans to issue securities
Finnish fishing tackle manufacturer Rapala VMC is considering issuing up to €25 million worth of securities to strengthen its balance sheet and create financial flexibility while at the same time seeking to reduce expenses and optimize inventory levels. The company pointed out that this move will open up its financing ...
Schöffel Country comes to continental Europe
With Schöffel Country, a “new” brand that stands for classic British country style with a passion for country life, the traditional form of hunting in the UK and a fascination for fly fishing, is entering the European mainland. Schöffel Country is authentically British, even though the name appears familiar. It ...
Revolution Race’s Q1 net rises 36% on strong sales growth
Fueled by 44 percent growth in its Rest of World region, the Swedish DTC outdoor company Revolution Race (RVRC) generated 24 percent revenue growth to 342 Swedish kroner (€29.2m) for its first quarter ended Sep. 30. Adjusted Ebit, excluding SEK 12 million in costs related to an incentive program, improved ...
SOG gains importance after the pandemic: “What we do generates interest”
In the wake of the pandemic, David Nordblad started in the role of Secretary General for the Scandinavian Outdoor Group (SOG). Since then, he has been occupied with various responsibilities, and he notes a sustained interest in joining the organization. In fact, SOG is now larger than ever. Nordblad explains ...
Foundation Outdoor Group establishes European headquarters in Sweden
Foundation Outdoor Group, the global supplier of fishing rod and tackle crafting components, supplies, equipment, and instruction, has announced the establishment of European headquarters in the strategic port city of Halmstad, Sweden. The company has acquired a new 2,100-sqm facility at Muskotvagen 7, ideally positioned to facilitate international distribution and ...
Vista Outdoor will prioritize debt reduction ahead of vote on Sporting Products divestiture
Vista Outdoor, which agreed in mid-October to sell its Sporting Products business to Czechoslovak Group a.s. (CSG) for an enterprise value of $1.91 billion, says it will continue to prioritize debt reduction ahead of a vote by shareholders to approve the sale. The company finished Q2 on Sept. 24 with ...
Angling Direct announces half year sales and profit growth
UK-based fishing tackle retailer Angling Direct has announced total group sales of £43.3 million (€49.6m) for the first six months ended July 31, representing an 11.4 percent increase. Like-for-like store sales increased by 4.9 percent. Domestic retail stores were £24.4 million (€28.0m), up 11.3 percent. Online sales rose by 8.3 ...
Shimano cites weak demand as nine-month results slip
Numerous global factors, including a “lackluster economy” in Europe and a ”sluggish” recovery in China, Shimano reported a 19.8 percent decline in total sales to ¥375.27 billion (€2.36bn) for the first quarters of fiscal 2023. Operating profit fell by 43.0 percent to ¥72.09 billion (€453.0m) from ¥126.58 billion for the ...
Vista Outdoor announces CFO for Revelyst
Previously considered a plan, it’s now official: Andy Keegan, currently Vista Outdoor’s vice president and interim CFO, will serve as Revelyst’s CFO following the planned spin-off of Vista Outdoor’s Outdoor Products segment into a separate public company. Keegan will continue to serve as Vista Outdoor’s VP and interim CFO until ...
Pernilla Nyrensten declines re-election to RVRC’s board
In a press release accompanying its proposal for the composition of Revolution Race’s (RVRC) Board of Directors for the next Annual General Meeting on Nov. 21, the company’s Nominating Committee published last Friday that Pernilla Nyrensten has decided to leave the board of the company she founded ten years ago ...
Vista 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 ...
Three EFFTA board directors resign
Three of the EFTTA (European Fishing Tackle Trade Association) board members have resigned following the association’s decision not to accept their bid to run the EFTTEX (European Fishing Tackle & Trade Exhibition) 2024 trade show. Ciro Esposito (Europesca Sport), Rudi Heger (Traun River Products) and István Pál (Energofish), who were ...
Clarus retains financial advisor for possible sale of Precision Sport segment
In response to the non-binding expression of interest by Warren B. Kanders, Clarus Corp.’s Executive Chairman, to acquire the company’s Precision Sport segment, which includes the Sierra Bullets and Barnes Bullets subsidiaries, the special committee of Salt Lake City, Utah-based Clarus’s Board of Directors hired Houlihan Lokey as the special ...
Vista 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 ...
American Outdoor Brands appoints Chief Operating Officer
U.S. holding company American Outdoor Brands (AOB), whose primary brands include makers of firearms for hunting as well as law enforcement equipment products and other outdoor products, announced that Brent Vulgamott, Vice President of Sales, Operations & Analytics, has been appointed to the newly created position of Chief Operating Officer, ...
Janne Mahlamäki appointed GM EMEA at Grundéns
Swedish fishing apparel and footwear manufacturer Grundéns has appointed Janne Mahlamäki as new General Manager for the Europe, Middle East and Africa (EMEA) region. Mahlamäki brings a wealth of experience and a proven track record in the outdoor and fishing industries and will continue Grundéns’ growth and transformation journey in ...