The Parent Amer Sports Completes Its Mavic Stripping And Sale.

Canada's high-end outdoor brand Arc 'teryx (original bird) parent company and Finland sporting goods group Amer Sports (Ya Mafen) recently announced that it has completed the divestiture and sale of its French bicycle system and driver's equipment brand Mavic SAS.

The acquirer of this transaction is the US private Holdings Company Regent LP, the two sides have not yet announced the details of the transaction. Regent LP focuses on companies in technology, consumer goods, retail and media entertainment industries in transition.

In September 2018, Amer announced that while continuing to promote sustainable growth in profitability, it would give priority to accelerating the five major aspects of clothing and footwear business, consumer facing business (B2C), Chinese business, American business and digital business, and putting Mavic in the field of strategic audit.

In March of this year, Amer made a decision to divest the business after conducting a comprehensive strategic review of Mavic. Headquartered in France Annecy, Charles Idoux and Lucien Chanel, the Mavic, which has been built in 1889, has produced bicycle systems and riding equipment. The brand has been the official sponsor of the tour de France (Tour de France) since 1970s. The company has more than 300 employees.

Amer disclosed that Mavic's sales accounted for about 3% of the group's total sales. Stripping the brand would not affect the group's current business. In 2018, Amer's annual sales volume was 2 billion 680 million euros.

Stripping Mavic will help Amer further streamline its brand portfolio and focus on higher profitability. Other brands of Amer include: French shoe clothing and mountain climbing, hiking, cross-country running and other sports equipment brand Salomon (Salomon), American tennis and other ball games equipment brand Wilson (Wilson), Finland diving computer and tools and Sports Watch brand Suunto, Austria skiing equipment brand Atomic, American treadmill and fitness equipment brand Precor, and Peak Performance acquired in May 2018.

Heikki Takala, President and chief executive of Amer, said: "as part of our strategy, we continue to focus on group brand portfolio, enhance our ability to grow rapidly, improve our profitability and expand our capabilities. We believe that Regent can further stimulate the great potential of Mavic brand. Amer will continue to deepen the existing strategy, especially in clothing and footwear, direct marketing, China and the United States market, and digitalization.

According to the strategy announced by Amer, the group will also complete the strategic review of fitness and sports equipment business in the medium term (including its sports watch brand Suunto). After completing the strategic investment, the two major businesses have been improved and achieved strong growth, making steady progress towards the established goal. The company will assess its long-term strategic options, including the possibility of splitting up independence.

In March this year, Anta sporting goods company of China announced that the minimum acceptance conditions and all other terms of completion of the offer offered to Amer have been met, and the tender offer will be completed according to the terms and conditions of the tender offer.