EXEC: Vista Outdoor Rejects MNC Final Offer as CSG Ups Ammo Segment Offer to $2.1B
Vista Outdoor Board unanimously recommended the CSG offer to acquire Vista’s Kinetics Group ammo segment, and it unanimously rejected MNC Capital’s final indication as inadequate and opportunistic, particularly in its undervaluation of the Revelyst outdoor products segment.
Paul Fredrick Names New CEO
Erica Lee is the company’s new chief executive officer. Neal Black, former CEO of Paul Fredrick and Jos. A Bank will continue to serve on Paul Fredrick’s Board of directors.
SGB Media to Close for Independence Day Holiday
SGB Media will not publish the SGB Morning or Evening Newsletters on July 4 and July 5. We will return to the office and resume publication on Monday, July 8.
Vista Outdoor Confirms Receipt of Latest Information from MNC Capital
The latest communication from MNC includes certain additional information required by Vista to assess MNC’s revised indication of interest, under which MNC expressed its final effort to acquire Vista Outdoor in an all-cash transaction for $42.00 per share.
EXEC: TSG International Inks French Distributor
SDG, based in Soorts-Hossegor, France, is a distributor of bikes, skates scooters and surf gear, representing action sports brands from Paris Trucks to Gibbon Slacklines.
Acer to Launch Next-Gen E-Bikes at Eurobike 2024
Acer will showcase its Acer ebii elite, eNomad-R series and Acer eCargo-M e-bikes at Eurobike 2024 this week in Frankfurt, Germany, from July 3-7. A full range of Acer and Predator e-mobility products will also be shown during the show.
Skullcandy Launches Active Collection
The earbud collection includes three “active” wireless products—Push Play Active, Push ANC Active and Sesh ANC Active—available at retailers July 2.
Authentic Brands Group Appoints Head of Japan Region
Jeff Daggett has been tapped as SVP, head of Japan. With over three decades of industry experience, Daggett is expected to play an integral role in strengthening Authentic’s presence and driving brand growth in the region.
EXEC: Bob’s Stores Commences Going Out of Business Sales
The company said that despite making swift and aggressive changes to its structure and operations, Bob’s Stores was unable to secure the finances needed to maintain operations.
Perfect Moment Narrows Fiscal Year Loss on Mid-Single-Digit Sales Growth
E-commerce revenue increased 21 percent to $10.4 million compared to $8.6 million in the prior year, said to be due to greater brand awareness and a stronger focus on e-commerce.
Report: Manufacturing PMI Contracted Again in June
Economic activity in the manufacturing sector contracted in June for the third consecutive month and the 19th time in the last 20 months.
NYSE Regulation Moves to Delist Delta Apparel Shares; Suspends Trading
In reaching its delisting determination, NYSE Regulation noted the company’s disclosure regarding the expectation that holders of shares of Delta Apparel’s common stock would experience a complete or significant loss on their investment, depending on the outcome of the Chapter 11 cases.
Meijer Celebrates 90th Anniversary as Family-Owned Midwest Retailer
Hendrik Meijer, a local barber in Greenville, MI, started the food store to service customers who visited his barbershop. in 1934. Today, the family-owned retailer has with over 500 Meijer supercenters, grocery stores, neighborhood markets, express locations, and distribution and manufacturing facilities throughout six Midwest states operated by over 70,000 employees.
EXEC: Delta Apparel Files for Chapter 11 BK Protection; Names Salt Life Stalking-Horse Bidder
The parent of the Soffe, Salt Life and Delta brands has posted losses for seven straight quarters as elevated inventory levels at the mass channel and related destocking efforts have impacted its Delta Direct vertical blank tee platform.
Leki USA Taps Ascension Sales for Mountain West
Founded in 2013 by industry veterans Brad Barlage, Eric Johnson and Brian Stevenson, Ascension Sales covers the trekking and outdoor retail territory for Leki in the Rockies and several states in the Midwest.
