M&A activity in the active lifestyle space screeched to a halt for a few months following the emergence of COVID-19, but it turned out to be a pause as several major and minor deals were completed in 2020.

Among the blockbuster deals was VF Corp.’s $2.1 billion acquisition of Supreme, the streetwear brand with 12 stores and a cult following. Some investors questioned the growth potential for a brand built on a scarcity model. The biggest purchase in the space appears to have been Mars’ acquisition of Kind Bars in a deal believed to be valued at about $5 billion.

Lululemon surprised investors with its acquisition of at-home exercise equipment maker Mirror for $500 million in cash. The acquisition could further position Lululemon to expand its booming e-commerce business and capture some of Peloton’s momentum. Peloton, which has been struggling to keep its stock levels during the pandemic, agreed to acquire Precor, the fitness equipment giant, for $420 million. The move will give Peloton 625,000 square feet of U.S. manufacturing space and allow it to accelerate the growth of its commercial business.

Fanatics continued to build up its vertical manufacturing capabilities with the acquisitions of WinCraft, the maker of licensed hardgoods, and Vetta Brands, the owner of Top of the World headwear.

On the retail side, Bass Pro, near the close of the year, reached an agreement to acquire Sportsman’s Warehouse for approximately $800 million to bring it several smaller stores that reach smaller markets. J.D. Sports, which marked its entry in the U.S. with the Finish Line acquisition in 2018, bought the 167-unit Shoe Palace Corp. for $325 million, giving the acquisitive U.K.-based retailer a robust geographical footprint out West. At the close of its fiscal year ended February 1, 2020, J.D. Sports’ U.S. operations consisted of 508 stand-alone Finish Line locations, 295 Finish Line in-store shops inside Macy’s, and 11 J.D. locations.

MEC, Canada’s largest outdoor chain, filed for creditor protection and announced in September it was ending its 49-year run as a co-op by selling the business to Los Angeles-based private investment firm Kingswood Capital Management. Amid protests, MEC’s officials said the pandemic’s impact on the already struggling business made the sale necessary. Kingswood has pledged to keep 17 of MEC’s 22 locations open while retaining 75 percent of employees.

Other bigger brands in the active space finding new owners included BOA Technology, Schutt Sports, Marucci Sports, Easton Diamond Sports, Topgolf, Golds Gym, Crossfit, and Canyon Bicycles.

Below is the full list of M&A deals in 2020 that SGB Executive chronicled. Transactions are listed during the month they were officially announced rather than when they closed. Click on the headlines to read more.

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