SGB Update Sports & Fitness
Maven Announces $23.1 Million Private Placement
Maven, which was recently granted the license to operate the Sports Illustrated media business, raised $23.1 million from several accredited investors in a private placement of 23,100 shares of its Series I Convertible Preferred Stock.
Brooks Signs NCAA Champs
Brooks Running Company said National Collegiate Athletic Association (NCAA) title-holders Allie Ostrander and Karisa Nelson joined the Brooks Beasts Track Club.
USA Triathlon Partners With Wahoo Fitness
USA Triathlon signed a four-and-a-half-year agreement with Wahoo Fitness, a leader in indoor smart trainers and connected cycling computers.
Nike Partners With Brighton
Nike has re-upped as the kit supplier to the Premier League club Brighton in a three-year extension.
Umbro Partners With Burnley
Umbro has signed on the replace Puma as the supplier of the Premier League club Burnley in three-year kit deal.
TRX Appoints President
TRX, a leader in functional training equipment, education and technology, announced John Hutchison as its new president, beginning June 10, 2019. His past experience include brand strategy and general management roles at Nike and The North Face, where he last ran the global Run & Train division.
Crunch Fitness Acquired By TPG Partners
TPG Growth, the middle market and growth equity platform of alternative asset firm TPG, announced that it has partnered with company management to acquire Crunch Fitness.
Trump and Xi Agree To Restart Trade Talks
The U.S. and China agreed to resume trade talks after a seven-week breakdown and the Trump administration has decided to hold off for now adding new 25 percent tariffs on some $300 billion in Chinese imports, which would have included apparel and footwear classifications and other popular consumer products.
USA Triathlon Partners With USA Swimming
USA Triathlon announced a three-way partnership with USA Swimming and U.S. Masters Swimming to host open water swim races as part of two USA Triathlon-owned events this year, the inaugural Legacy Triathlon and the Toyota USA Triathlon Age Group National Championships.
Winmark Corporation Announces Resignation
Winmark Corporation, the parent of Play It Again Sports, announced the submission by Steven C. Zola of his resignation from the position of president of Winmark Capital, as well as his resignation as vice chairman of the board of directors of Winmark Corporation.
BSN Sports Acquires Missouri’s Key Sport
BSN Sports announced that it has acquired Key Sport Shop, Inc., based in Rolla, MO.
Brunswick Concludes Divestiture Of Fitness Business
Brunswick Corporation announced that it has completed the previously announced sale of its Fitness business to KPS Capital Partners, LP, a private investment firm, in an all-cash transaction for approximately $490 million.
Nike’s Earnings Slide In Fourth Quarter
Nike Inc. reported earnings fell 13.0 percent in the fourth quarter ended May 3 as increased marketing costs, currency headwinds and a higher tax rate offset improving sales and gross margins. Earnings were 4 cents below Wall Street’s average estimate. Revenues rose 4.0 percent, slightly ahead of targets, and would have been up 10 percent on a currency-neutral basis, led by China.
Report: Belle International’s Sportswear Distribution Unit Exploring IPO
Belle International, the Chinese footwear retailer, filed plans on Thursday to spin off its sportswear business through an initial public offering in Hong Kong, according to Reuters.
BibRave and AfterShokz Create New Podcast Mini-Series
BibRave, the running industry specialist in grassroots digital marketing, and AfterShokz, known for its open-ear, bone conduction running headphones, recently created and launched Making It: An AfterShokz Podcast Series by BibRave. The series explores the pathways, trials, and tribulations of a variety of athletes as they try to “make it” at the highest levels of their sport.
