Having recently confirmed the divestment of its Mavic business, Amer Sports has confirmed that the Mascot Bidco investment consortium is acquiring the remaining Amer Sports business.
It was originally expected that the deal would go through earlier this month. Although, the resolution of the sale of Mavic has intervened. The future of Amer Sports’ other cycling operation, ENVE, remains unclear. Yet, it is expected that this may also be divested – as Amer Sports has, for a number of months, been undertaking a strategic review of its cycling operation.
In a release, Amer Sports clarified the latest status of its sale to the Mascot Bidco consortium…
Mascot Bidco – the holding company for the investor consortium consisting of Anta Sports, FountainVest, Chip Wilson and Tencent – has announced the result of the tender offer to acquire Amer Sports.
As shareholders representing 95% of Amer Sports’ shares have accepted the tender offer, the consortium has the right to redeem the remaining shares and become the sole owner of Amer Sports. The change in ownership is expected to happen in late March.
Following the transaction, Amer Sports will be delisted from NASDAQ Helsinki and become a privately-owned company. However, the plan is that Amer Sports will continue as an independent company with its head office in Helsinki, Finland.
The ownership change is expected to provide further opportunities for the company’s business and employees globally. The consortium has planned to invest significant financial and other resources to accelerate Amer Sports’ growth globally as the company continues to drive sustainable growth, building on the strength of a leading brand portfolio.
‘The growth will be further accelerated with focus on Apparel and Footwear, Direct to Consumer, China, and United States – in line with the current priorities.’