Amer Sports Corporation completed the acquisition of Peak Performance from IC Group, announced on April 30, 2018.

Peak Performance business will be consolidated into Amer Sports as of July 2, 2018. The acquisition will have a minor positive impact on Amer Sports’ 2018 financial results. The purchase of Peak Performance business has been approved by the applicable regulatory authorities.

In conjunction with the acquisition, to enable faster growth and scale and synergy across the apparel brands Arc’teryx, Salomon and Peak Performance, Amer Sports establishes a new Apparel Category structure with a dedicated leadership under an executive board president. Effective immediately, Jon Hoerauf, general manager Arc’teryx, is appointed president, Amer Sports Apparel Category and member of Amer Sports’ executive board. Hoerauf will continue to report to Amer Sports President and CEO Heikki Takala.

Hoerauf has had a long executive career in the apparel and outdoor industry, including six years were in Amer Sports and three years as general manager, Arc’teryx. He is a U.S. citizen.

“We are delighted to welcome Peak Performance to Amer Sports. With Peak Performance in the portfolio, we are now increasingly well-positioned to accelerate our growth in Softgoods. To enable this acceleration and to achieve our targeted operational scale benefits across the portfolio, we are re-establishing an Apparel Category structure,” said Takala. “We are pleased to appoint a strong internal leader with an outstanding track record, Jon Hoerauf, as president for the category.”

Amer Sports’ brands include Salomon, Wilson, Atomic, Arc`teryx, Precor, Suunto and Mavic.