SGB Update Sports & Fitness
Equinox Holdings’ Debt Ratings Downgraded
S&P Global Ratings lowered its debt ratings of Equinox Holdings Inc. over concerns the fitness chain operator will face challenges meeting commitments under its $76 million revolving credit facility due March 2023.
Under Armour Partners With XFL
Under Armour and the XFL reported it entered into a partnership. Under the terms of the agreement, UA becomes its “official” uniform provider beginning with the 2023 XFL season for all on-field play, including jerseys, base layers, sideline, and training apparel.
Keurig Dr Pepper Acquires Equity Stake In C4 Energy Maker
Keurig Dr Pepper, Inc. is paying $863 million for an approximately 30 percent ownership stake in active nutrition company Nutrabolt, owner of C4 Energy, C4 Pre-Workout and Xtend brands. The companies also have entered into a long-term sales and distribution agreement.
Puma Names Chief Product Officer
Puma promoted Maria Valdes to chief product officer and to its Board of Management, effective January 1, 2023. Valdes’ current role is general manager, Puma Sportstyle.
Lululemon Lifts Outlook As Q3 Comps Surge 22 Percent
Lululemon Athletica Inc. again raised its outlook for sales and earnings in the year after reporting third-quarter results that topped guidance. Comparable sales in the quarter jumped 22 percent, or increased 25 percent on a constant dollar basis.
GolfTrainingAids.com Acquires The Putting Arc
GolfTrainingAids.com, the seller of golf teaching and training aids, has acquired The Putting Arc.
Anta Exploring Amer Sports IPO
Anta Sports Products, Ltd., the Chinese sports equipment corporation headquartered in Jinjiang, is reportedly holding preliminary talks with investment banks for an IPO of Amer Sports that could raise about U.S.$1 billion or more, according to Bloomberg.
TopGolf Callaway’s Debt Rating Outlook Upgraded
Moody’s Investors Service affirmed Topgolf Callaway Brands Corp.’s debt ratings and changed its outlook on the company to stable from negative due to improving results.
Academy Sports’ Q3 Comps Slide 7.2 Percent
Academy Sports and Outdoors, Inc. reported earnings on an adjusted basis declined slightly in the third quarter ended October 29 against difficult year-ago comparisons but topped Wall Street expectations. Same-store sales were down 7.2 percent with overall sales coming in below analyst targets. Sales were up 30.5 percent versus the pre-pandemic 2019 third quarter.
Cytech Acquires Pasasport
Italian manufacturer of arm pads and inserts for cycling clothing, Cytech, reported it acquired a majority of shares in Pasaport, a manufacturer of gloves and accessories.
Fanatics Reaches $31 Billion Valuation After $700 Million Investment Round
According to the Wall Street Journal, Fanatics, Inc. raised about $700 million from a group of investors, supporting a valuation of $31 billion.
Bioniq Acquires Vaha
Bioniq, the London-based provider of personalized healthcare supplements, reported it acquired Vaha, the German-based home fitness mirror brand.
SoulCycle Partners With ClassPass
ClassPass announced SoulCycle is bookable on the company’s ClassPass app.
Metabolism Tracker Lumen Raises $62 Million
Lumen, an Israeli med-tech company that manufactures a device to check metabolism, raised $62 million in a Series B funding led by Pitango Venture Capital.
3Step Sports Acquires North Pacific Juniors Volleyball Club
3Step Sports reported it acquired the North Pacific Juniors Volleyball Club (NPJ) to its volleyball organization as it expands into the Pacific Northwest.
