Amer Sports yesterday completed the acquisition of ENVE Composites that was originally announced in February 2016. A release from Amer added that ENVE is a fast-growing brand in high-end carbon wheels, components and accessories for road and mountain biking with annual sales of approximately US$30 million.
‘The acquisition accelerates Amer Sports Cycling business especially in the United States and provides further expansion opportunities internationally. ENVE brings capabilities in carbon technology, and it offers operational scale and synergy benefits complementing Amer Sports’ cycling category.’
The acquisition price is US$50 million in an all-cash transaction. Amer adds that the acquisition will have no material impact on Amer Sports’ 2016 financial results, and it will be accretive (adding to earnings per share) to Amer Sports EBIT margin as of 2017.
The ENVE brand of wheels and accessories joins the Amer Sports portfolio, which includes brands such Salomon, Wilson, Atomic, Arc’teryx, Mavic, Suunto and Precor. Amer Sports shares are listed on the Nasdaq Helsinki stock exchange (AMEAS).