Australian fitness chain F45 Training will go public in the U.S. after reaching a deal to be acquired by Crescent Acquisition, a special purpose acquisition company backed by investment firm Crescent Capital. F45’s Co-founder and Chief Executive Adam Gilchrist will continue to run the fitness chain.
Author: SGB Media
OBIT: Frank Dassler
Frank Dassler, grandson of Puma founder Rudolf Dassler, has passed away at the age of 64. He was managing director of the Puma subsidiary in the USA from 1985 to 1987 and group general counsel at Adidas from 2004 to 2018.
Arc’teryx Recognized As One of The Best Workplaces In British Columbia
Arc’teryx Equipment has been named to the list of 2020 Best Workplaces in British Columbia. Arc’teryx received this honor after a thorough and independent analysis conducted by Great Places to Work.
UConn To Drop Four Sports
The University of Connecticut will eliminate four sports in the cost-saving move. Affected programs are men’s cross country, women’s rowing, men’s swimming & diving and men’s tennis.
Eddie Bauer Joins Facebook Boycott
Eddie Bauer will pull its advertisements from Facebook in support of the w “#StopHateforProfit” campaign.
Crossfit Finds New Owner
Crossfit is being sold to Eric Roza, the owner of CrossFit Sanitas in Boulder, CO. The sale follows controversial statements from Founder Greg Glassman after the death of George Floyd.
Foot Locker Commits $200 Million To Support Black Community
Foot Locker Inc. will invest $200 million over the next five years to support the black community through investments in black-owned businesses within youth culture, purchases from more products from black-owned brands and donations to organizations that create economic development and advancement opportunities for minorities.
New York City Marathon Canceled Due To Pandemic
The 2020 TCS New York City Marathon, set to take place on November 1, has been canceled. New York Road Runners (NYRR), the event organizer, in partnership with the Mayor’s Office of the City of New York, have made the decision to cancel the world’s largest marathon due to coronavirus-related health and safety concerns for runners, spectators, volunteers, staff, and the many partners and communities that support the event.
Amazon Establishes Counterfeit Crimes Unit
Amazon announced it has established a new Counterfeit Crimes Unit, dedicated to bringing counterfeiters that violate the law and Amazon’s policies by listing counterfeit products in its store to justice.
Crocs Celebrates Opening Of New Global Headquarters
Crocs Inc. announced the opening of their new corporate headquarters in Broomfield, CO, less than 20 miles outside of downtown Denver. In addition to the nearly 375 current positions, the approximately 90,000 square foot state-of-the-art facility will allow the company to significantly expand its ability to hire more full-time jobs.
Dick’s Shares Upgraded On Accelerating Share Gains
Cowen on Wednesday lifted its rating on Dick’s Sporting Goods as the investment firm sees accelerating share gains amid improving footwear allocations as well as greater adoption of its e-commerce platform. Analyst John Kernan wrote in a note, “We expect market share gains to continue and accelerate as regional smaller sporting goods providers weaken financially or file for bankruptcy.”
GNC Files Bankruptcy, Outlines $760MM Sale Proposal
GNC Holdings Inc., the parent company of health and wellness retailer GNC, filed for Chapter 11 bankruptcy protection in Delaware with plans to sell the company and close “at least 800 to 1,200 stores.” The move comes after its latest effort to manage its debt load unraveled amid the coronavirus pandemic.
GNC Files For Bankruptcy, Plans To Close Up To 1,200 Stores
GNC Holdings Inc. said it has filed for chapter 11 bankruptcy protection with plans to sell itself and close 800 to 1,200 of its roughly 7,300 locations.
Winnebago Seeing Strong Bounce Back After Challenging Q3
Winnebago Industries reported a loss in the third quarter ended May 30 due to the impact of COVID-19 shutdowns but saw business recover in May and is optimistic about summer selling. CEO Michael Happe said, “The COVID-19 pandemic has impacted travelers’ views toward how they desire to spend their leisure time experiencing nature and the outdoors.”
Nordica USA Announces Management Changes
Nordica North America recently announced management changes with Vice President Scott Russo retiring, shown below right, and Mike Martini appointed to the newly created position of national sales manager for Nordica USA.
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