Pierer Industrie AG acquires majority stake in Syntace
Austrian-based Pierer Industrie AG has acquired an unnamed majority stake in renowned German bicycle component manufacturer Syntace GmbH. No details of the purchase price were disclosed. Syntace develops and produces a wide range of high-quality lightweight products from wheels to hubs, handlebars, seat posts and pedals. The high-quality MTB niche ...
Pon Holdings continues to invest in the automotive and bicycle mobility segments
After the parent company of Pon Bike Group (PBG), Pon Holdings B.V., on June 1 became a minority shareholder in German car dealer Adelbert Moll GmbH & Co. KG (better known as Moll Group) for an undisclosed amount, the Dutch retail and services giant has now acquired the DTC bicycle ...
Pierer Mobility defies supply problems in H1
The half-year report presented on Aug. 30 underscores why Pierer Mobility AG had already raised its annual forecast for 2022 one day earlier via an ad hoc announcement: Despite aggravated delivery problems, the Austrian group achieved positive sales development in the first six months of the year. However, this could ...
Cake seals three-year partnership with Kolon Automotive for South Korea
Cake, SOG member and Swedish manufacturer of premium light electric motorcycles, announced the closing of a major partnership in South Korea with premium dealer Kolon Automotive, having just signed a three-year contract worth $20 million. The partnership builds on Kolon Automotive’s well-established network covering distribution, sales and branding, working with ...
Vista closes acquisition of Fox Racing
Vista Outdoor announced the closing of its acquisition of California-based Fox Racing for the purchase price of $540 million, with the potential for an additional $50 million earnout based on Fox Racing’s financial performance (OIC reported earlier). The addition of Fox Racing allows Vista Outdoor to add another category-leading brand ...
Fox Factory with new sales records, gives cautious outlook
U.S.-based suspension specialist Fox Factory Corp. reported total revenues of $406.71 million (€399.48 million, +23.9% year-on-year) in its second fiscal quarter of 2022. This amount is split between the Powered Vehicles Group (PVD, $229.03 million, +20.9%) and the Specialty Sports Group (SSD, $177.67 million, +28.1%). SSD sales increased due to ...
USWE nominates Frisk for board of directors
USWE Sports’ nomination committee has proposed the re-election of Mats Jacobson, Martin Kössler, Jenny Graflind and Joel Eklund as ordinary members, Jacobson as chairman of its board of directors. Current board member Fredrik Carling has declined his re-election. In addition, Helena Nordman-Knutson and Patrik Frisk were nominated for election as ...
Italmobiliare acquires Sidi Sport
Italmobiliare has invested in Sidi Sport, the iconic Italian brand specializing in cycling and motorcycling footwear. As per the terms of the agreement, 100 percent of the capital of Sidi Sport S.r.l. will be taken over by Italmobiliare for €66 million, in addition to the net cash held by the ...
Cake expands operations in Germany
Cake, the Swedish manufacturer of lightweight premium electric motorcycles and a member of the Scandinavian Outdoor Group (SOG), has announced the expansion of its presence in the German market. A local sales team is already operating in Berlin and a full-service CAKEsite is expected to open later this year. A ...
Dainese and Momodesign partner on urban and outdoor clothing line
Dainese is teaming up with Momodesign on a new line of clothing, footwear, helmets and accessories designed for the outdoors and urban mobility. Upon the terms of the all-Italian license agreement, the products will be designed by Momodesign in its Style Center and manufactured by Dainese, which will also distribute ...
Vista Outdoor to acquire Fox Racing
Virginia-based Vista Outdoor Inc, the parent company of 39 sports and outdoor brands, announced it has entered into a definitive agreement to acquire Fox Racing, a global provider of high-performance motocross, mountain biking and lifestyle gear from Irvine, California. The purchase price is $540 million, with the possibility of earning ...
Cosmo Connected raises €6 million from angel investors
Cosmo Connected, a French start-up specializing in connected safety accessories for users of bikes and scooters, has raised €6 million from Patrice Pastor (J.B. Pastor), Adrien Dassault (Tikehau Capital), Gary Anssens (Alltricks), Sarona VC and several private investors, Le Figaro has reported. In addition, Cosmo Connected is opening its capital ...
USWE acquires Oregon-based Giant Loop, opens U.S. subsidiary
Swedish company USWE Sports AB has agreed to acquire U.S. companies Giant Loop LLC and Armadillo Bag LLC, among the most successful brands in the soft-bag segment for the off-road market in the U.S. The fixed acquisition price totals approximately $3 million, of which roughly $1.5 million will be paid ...
Fox Factory publishes first global sustainability report
In time for World Environment Day, Fox Factory – based in Georgia, USA – released its first sustainability report for 2021. The report includes the results of the company’s first materiality analysis, which led to the development of the Fox Factory Frontiers sustainability strategy. The publication summarizes the current state ...
All European Dometic production sites now powered by renewable energy
Dometic has entered the next phase in implementing the company’s sustainability strategy. The program covers the next three years until 2024. For an overview of the program and its goals, visit the sustainability section of dometic.com.
Cake appoints EV strategist to board of directors
Cake, the Swedish manufacturer of lightweight electric motorcycles, has announced the appointment of Peter Bardenfleth-Hansen to its board of directors. Bardenfleth-Hansen, who recently became CEO of Norwegian charging station manufacturer Zaptec, brings many years of experience in the electrification of transportation and its greater ecosystem. Among other things, he led ...
Cake appoints Jens Stark as chief commercial officer
Cake, the Swedish manufacturer of lightweight electric motorcycles, has appointed Jens Stark as chief commercial officer. Stark will lead the continued expansion of Cake’s sales team globally and take the sales organization from start-up to scale-up. He joins Cake from Apple, where he held several sales and business development leadership ...
New networking format for urban mobility during Eurobike
Urban mobility is the central focus of the new Mobility Networking Night in Frankfurt. The event will take place on July 14, 2022. The stated goal: “The event will provide a framework to explore cross-industry synergies with other relevant urban mobility players.”
Clarus open to buy more “Super Fan” brands after record year
Clarus Corp., whose expanding portfolio now includes seven brands and three operating segments, generated a 99 percent increase in fourth-quarter net income to $14,046,000 from $7,069,000 on 56 percent topline growth to $118,183,000 from $75,947,000 for the period ended Dec. 31. Sales increased by 34 percent in the U.S. to ...
L Catterton acquires Taxa Outdoors
Taxa Outdoors, a Texas-based manufacturer of lightweight, mobile habitats for outdoor adventure, today announced that it has been acquired by the Growth Fund of L Catterton, reportedly the largest global consumer-focused private equity firm. L Catterton is a former investor in Sweaty Betty or Peloton and currently owns 8.4 percent ...