SGB Update Outdoor
Li & Fung Sells Logistics Arm To Maersk For $3.6 Billion
Li & Fung Limited entered into a transaction for shipping giant Maersk to acquire its logistics business, LF Logistics Holdings Limited (LF Logistics) and its various entities, valuing the business at $3.6 billion on an enterprise value basis.
Saris Appoints Product Manager
Saris, a maker of bike racks and bike trainers based in Madison, WI, announced the promotion of Kellen Pagel to product manager.
BikeExchange Limited Acquires Kitzuma
BikeExchange, the Australia-based marketplace, has acquired Kitzuma, the Asheville, NC-based bike-shipping service that launched last December.
Gaia Acquires Yoga International
Gaia, Inc., the subscription video-streaming service, has acquired Yoga International, a digital yoga service. The acquisition adds 4,000 hours of yoga content to Gaia’s library.
Recall On GSM Outdoors Captain Hang-on Treestands
About 1,030 Captain Hang-on Treestands from GSM Outdoors are being recalled. According to the CPSC, the crimps of the plastic-coated cables can slip during use causing the standing platform to release, posing fall and injury hazards to users.
Thor Industries Sets $250 Million Share Buyback Plan
Thor Industries, Inc. announced that its Board of Directors has authorized the repurchase of up to $250 million of its common stock.
Decision On ‘Container Dwell Fee’ On Hold Until December 27
Further consideration of the “Container Dwell Fee” will be postponed until Dec. 27, the Port of Long Beach and the Port of Los Angeles announced.
RV Shipments Set New November Record
Results for the RV Industry Association’s November 2021 survey of manufacturers determined that total RV shipments ended the month with 49,135 units, a new record for the month of November and an increase of 15.6 percent compared to the 42,513 units shipped during November 2020, the previous record for November.
Imperial Headwear Sold To Private-Equity Firm
Paramount Apparel International, the parent of Imperial Headwear, has been sold to CPC LLC, a Kansas City, MO-based family office investment firm.
Brixton Appoints New CFO
Brixton announced that Rick Robertson, the former chief financial officer of Municipal Co, Inc., will join Brixton as its new chief financial officer beginning January 3.
Port Of Los Angeles Headed To Record Cargo Year
The Port of Los Angeles is on track to break a new record for cargo throughput in 2021, processing more volume than any port in the Western Hemisphere. With two weeks left in the year, the Port said it anticipates its final volume will be approximately 10.7 million Twenty-Foot Equivalent Units (TEUs), about 13 percent more than its previous record set in 2018.
Clarus Acquires Barnes Bullets’ Headquarters In Utah
Clarus Corporation announced that it has purchased the headquarters of its Barnes brand. The building, located in Mona, UT, is both the headquarters and production facility for the Barnes brand. Clarus purchased the building and land for $9.5 million.
Nike’s Q2 Exceeds Wall Street Targets
Nike Inc. reported earnings for the second quarter ended November 30 rose 7 percent and easily topped Wall Street’s consensus target. Sales inched up one percent, led by Nike Brand Digital growth of 11 percent, while gross margins improved 280 basis points.
Schwinn Tone Electric Scooters Recalled
About 11,340 Schwinn Tone Electric Scooters (e-scooters) are being recalled.
Johnson Outdoors Vice Chairman To Retire
Johnson Outdoors Inc. announced that Thomas F. Pyle, Jr., director and vice-chairman, will not stand for re-election to the company’s board of directors during its 2022 Annual Shareholder Meeting.
