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  1. #1
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    Amer Arc'teryx, Solomon , Armada et al get bought by China

    Now not just made in China, but owned by China.....

    https://finance.yahoo.com/news/chine...102610668.html

    Chinese Group to Buy Wilson Tennis Racket Maker for $5.2 Billion
    Bloomberg
    Jeff Sutherland
    ,Bloomberg•December 7, 2018
    (Bloomberg) -- A Chinese investor group led by Anta Sports Products Ltd. reached a $5.2 billion deal to acquire the maker of Wilson tennis rackets and Louisville Slugger baseball bats, as it seeks to bring high-end athletic equipment to China’s wealthy consumers.

    The consortium, which includes Chinese buyout firm FountainVest Partners, will offer shareholders of Finland’s Amer Sports Oyj 40 euros a share in cash, or about 4.6 billion euros. The deal is the largest struck by a Chinese acquirer for a European asset since China Investment Corp. agreed to buy Logicor Europe for almost $14 billion in June 2017, according to data compiled by Bloomberg.

    Significant minority investors in the consortium also include Chip Wilson, the billionaire founder of yoga-apparel retailer Lululemon Athletica Inc., and Chinese internet giant Tencent Holdings Ltd.

    China Focus

    China has become a major focus for makers of luxury products, as companies target an increasingly wealthy middle class. Athletic-goods companies such as Adidas AG are also seeking to tap into a growing interest in healthy lifestyles among the nation’s consumers.

    Anta, China’s biggest athletic-apparel producer, is seeking acquisitions of well-established global brands as it works to increase its business overseas. The Chinese government is pushing to expand in sports ranging from soccer to skiing, as well as the industries that supply equipment for competitors and weekend enthusiasts.

    Amer’s portfolio of well-known brands, including Salomon ski boots, Arc’teryx outdoor gear and Atomic winter equipment, is an attractive prospect for Anta ahead of the coming Olympic Games in Asia. Beijing will host the Winter Olympics in 2022, providing a springboard for sales of skis and snowboards, while the 2020 Summer Games in Tokyo will offer a showcase for other Amer brands.

    “We are excited to bring these premium international brands and products to Chinese consumers, who increasingly seek high-end products with outstanding qualities and heritage in various niche and specialized sports segments,” Anta Sports Chief Executive Officer Ding Shizhong said in a statement.

    The offer price represents a 14 percent premium over Amer’s closing stock price on Wednesday, and is almost double Amer’s valuation a year ago. Amer shares rose as much as 9.4 percent to 38.50 euros in Helsinki.

    Amer Sports was advised by Goldman Sachs Group Inc. on the transaction, while Citigroup Inc. worked with Anta Sports, FountainVest and the group of buyers.

    Growth Opportunity

    “Under the ownership of the investor consortium, there is an opportunity to continue to deliver our strong sustainable profitable growth with further acceleration in our strategic priorities including soft goods, direct-to-consumer and China,” Amer Sports CEO Heikki Takala said in the statement.

    After completion of the deal, the consortium plans for Amer Sports to be operated independently from Anta, with Takala and other executives continuing to lead the business.

    The consortium said it aims to expand Amer Sports’s business in the Chinese market using Anta’s distribution network, research-and-development resources and manufacturing capabilities.

    Anta Sports could raise Amer’s revenue contribution from the country to 10 percent by 2020 from the current 6 percent, according to Bloomberg Intelligence analyst Catherine Lim.

    Anta said in September it had teamed up with FountainVest to make an indicative offer for Amer at 40 euros a share. That news sent the Finnish company’s stock soaring 19 percent, its biggest one-day jump ever.

    Amer Sports’s board has unanimously recommended the Anta’s tender offer to shareholders. The deal is expected to be completed during the second quarter of 2019 at the latest.

    --With assistance from Ben Scent.

    To contact the reporter on this story: Jeff Sutherland in Tokyo at jsutherlan13@bloomberg.net

    To contact the editors responsible for this story: K. Oanh Ha at oha3@bloomberg.net, John J. Edwards III, Eric Pfanner

    For more articles like this, please visit us at bloomberg.com

    ©2018 Bloomberg L.P.
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  2. #2
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    resist....buy this*

    Click image for larger version. 

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    *not for sale
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  3. #3
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    Woah.
    Quote Originally Posted by XXX-er View Post
    the situation strikes me as WAY too much drama at this point

  4. #4
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    Quote Originally Posted by reckless toboggan View Post
    Woah.
    Yeah Amer is an OY? Never would have guessed they were Finnish

  5. #5
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    Nov 2015
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    What in the Fucking Fuck. After I read Loisville Slugger my eyes went cross.

  6. #6
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    So now china owns a bunch of stuff that finland used to own but some of us thought that we owned it even though most of that was owned by canada and europe?
    powdork.com - new and improved, with 20% more dork.

  7. #7
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    Make America Great Again, I think?

    I agree it is a constitutional right for Americans to be assholes...its just too bad that so many take the opportunity...
    iscariot

  8. #8
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    Save the American steel workers!

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    It's a war of the mind and we're armed to the teeth.

  9. #9
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    guess its not all they own ....
    https://www.google.com/amp/s/www.vox...uighur-muslims

    https://en.m.wikipedia.org/wiki/Dog_meat

    In Guangdong, cat meat is a main ingredient in the traditional dish "dragon, tiger, phoenix" (snake, cat, chicken), which is said to fortify the body.[3]

    Organized cat-collectors supply the southern restaurants with animals that often originate in Anhui and Jiangsu provinces.[3][4][5] On 26 January 2010 China launched its first draft proposal to protect the country's animals from maltreatment including a measure to jail people, for periods up to 15 days, for eating cat or dog meat.[6][7]

    With the increase of cats as pets in China, opposition towards the traditional use of cats for food has grown. In June 2006, approximately 40 activists stormed the Fangji Cat Meatball Restaurant in Shenzhen, forcing it to shut down.[8] Expanded to more than 40 member societies, the Chinese Animal Protection Network in January 2006 began organizing well-publicized protests against dog and cat consumption, starting in Guangzhou, following up in more than ten other cities "with very optimal response from public."[9] (wikipedia)


    let them surf
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  10. #10
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  11. #11
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    Fake news.

















    Nah... I believe it.

    Found this on some random snowboard:

    Click image for larger version. 

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    Custom Boots - Hand Tunes - Daily Wax
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  12. #12
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    So your saying shifts will be made in China? Well that sucks
    I need to go to Utah.
    Utah?
    Yeah, Utah. It's wedged in between Wyoming and Nevada. You've seen pictures of it, right?

    So after 15 years we finally made it to Utah.....


    Thanks BCSAR and POWMOW Ski Patrol for rescues

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  13. #13
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    There is little reason to suggest more manufacturing will move to China. The wealthy Chinese place way more of a premium on European designed and built luxury products than Americans do. It’s price conscious North Americans and Europeans who have driven production to China, not Chinese consumer demand.

    Even if more of it did move to China, it would largely mean lower prices for all consumers. My guess is they are looking to clean up import lines and logistics as well as get Chinese led marketing to make a big push into China, as well as recognizing a group of companies with a profitable future.

    Design, engineering and manufacturing will all likely stay where it’s at for the immediate future.

    Yawn,

  14. #14
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    Yawn is right. These are just a group of consumer brands, which get traded among big companies like Pokémon cards.

    Y’all know Marker, Volkl and Dalbello are owned by a US PE Fund, right? Along with K2 and BCA. All of Which it bought from Newell Rubbermaid. The designs and supply chain won’t change only the overlords
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