The investment firm said it has delivered a Merger Agreement it is prepared to sign for its $42 per share all cash proposal, as well as commitment letters with respect to the proposed debt and equity financing for such proposal totaling approximately $3.2 billion needed to finance the transaction.
Author: SGB Media
EXEC: Gym King Founder and CEO Buys Out JD Sports Stake in UK Athleisure Retailer
Founder and CEO Jay Parker, via an entity GKH Ventures Ltd. completed the buyout of JD Sports’ stake in The Gym King (Holdings) Ltd., with Parker regaining 100 percent ownership in the business.
Adidas Drops the Velostan Smith
“The Stan Smith sneaker journey started in 1978, and it has been a joy to watch Adidas evolve and reimagine it ever since, with this latest version imagined especially for cyclists – being no different.” —Stan Smith
PGA Tour Hires Chief Marketing & Communications Officer
Former Aon CMO Andy Weitz is responsible for positioning the PGA Tour brand for investment while communicating its global strategy and performance to the Tour’s stakeholders and beyond. He will formally begin working with the PGA Tour in mid-August.
PGA of America CEO Exits, Shifts to Advisory Role
Accomplishments include leadership during the pandemic, delivering deferred compensation retirement plan for members, completing PGA Frisco partnership agreements, and growth of the PGA of America Reach Foundation
Life Time Closes on $90 Million Sale-Leaseback
The sale-leaseback transactions will support the company’s progress in reducing its net debt-to-adjusted EBITDA leverage ratio to under three times sooner than forecasted.
EXEC: Assessing the Financial Impact of the OIA and Outdoor Retailer Break Up
The separation, or divorce, was always expected to be a tough move for OIA to absorb, as the loss of royalties from the OR show would cut millions from the trade association’s budget each year. But a funny thing happened on the way to this eventual agreement, OIA shifted its reliance on trade show royalties.
Revo Joins US Sailing’s Growing Roster of Official Partners
The partnership, which is in effect throughout 2024, has Revo outfitting the US Sailing Team with eyewear to compete internationally, marking a global representation between the organizations.
Scott USA Hires Industry Vet as President
Alongside teams based in Salt Lake City and Ogden, UT, Hap Seliga will work to drive growth in the U.S. market and solidify the company’s position in outdoor verticals.
The Conservation Alliance Expands Focus into Fishing and Fly Fishing
While TCA and its new members have shared conservation values for decades, this new partnership is expected to open a realm of opportunity. As TCA continues to expand its program work, collaborating with the fly-fishing community will support additional efforts to protect North America’s waterways.
Pickleball Kingdom to Open 25 New Locations in Ohio and Orlando
Spearheaded by franchisees Sanjay and Dhaval Patel, who will build most clubs in Ohio and several in Orlando.
REI Co-op Taps Under Armour, Target Vet as VP of Human Resources
Mike Cannata was, most recently, vice president of human resources at Under Armour. Before UA, he worked for over a decade at Target, progressing from a store management through human resources leadership.
American Outdoor Brands Posts Solid Q4 Growth on New Products, Expansion into Retail
Overall growth was said to be supported by new product launches across a number of AOUT brands including Bubba, Caldwell, Grilla, and Hooyman, driving 6.9 percent growth in the outdoor lifestyle category and 3.2 percent growth in the shooting sports category.
Nike Inc. Beats Q4 EPS Estimates But Warns of Fiscal 2025 Guidance Cut
Nike Inc. reported earnings in the fiscal fourth quartar ended May 31 exceeded analysts’ consensus targets by 17 cents but also warned that it would downwardly adjust its guidance for the coming year due to continued “challenges” in the marketplace.
Original Penguin Enters Spain with First Flagship Store
Perry Ellis International, parent of the brand, said that the launch marks an expansion for the brand under its new Spanish license partner, Linea Magna Europa SL, an affiliate of Linea Magna which has grown the Original Penguin brand in Mexico since 2012.
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