HELSINKI (BRAIN) — Amer Sports is increasing its presence in the softgoods market, which has been one of its best performing segments in recent years, with the purchase of Peak Performance.
Based in Stockholm, Sweden, Peak Performance offers fashion sports wear for urban, outdoor, running and golf. It had net sales of about 145 million euros ($175 million) last year. Amer is paying 255 million euros for the company with the closing expected this summer.
“In line with our strategy, we accelerate in softgoods and direct to consumer by acquiring Peak Performance, the iconic Swedish premium performance outerwear and streetwear brand. Peak Performance is distinctively positioned versus our current brand portfolio and it has a strong relevancy in sports fashion, and moreover a significant share of sales in womenswear and direct to consumer. With this acquisition, we take another important step toward our longer term target of bypassing EUR 1.5 billion sales in softgoods,” said Heikki Takala, the president and CEO of Amer Sports.
Amer’s other brands include Salomon, Wilson, Atomic, Arc’teryx, Mavic, Enve, Suunto and Precor.
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Author: Stephen Frothingham
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