Amer Sports announces the acquisition of Peak Performance for $300M.
Amer Sports, a Helsinki, Finland-headquartered sporting goods company, announced the acquisition of all the shares and related businesses of Peak Performance AB from the Danish fashion company IC Group.
The acquisition price is DKK 1,900M (approx. $300M) while closing of the acquisition is expected during the summer 2018, subject to customary regulatory approvals.
Peak Performance, based in Stockholm, Sweden, is a leading premium sports fashion brand with net sales of DKK 1,079M (approx. $173M) and EBIT of DKK 123 million (approx. $20M) in the last 12 months. As a result of the transaction, the approximately 300 Peak Performance employees will become part of the Amer Sports Group.
Peak Performance has a strong presence in the North and Central European markets, and the brand is also highly recognized outside of Europe. Peak Performance has evolved from its skiwear heritage to a balanced sportswear brand with year-around offering, capitalizing on the performance inspired fashion culture with strong global market growth. More than 40% of the brand's sales is womenswear and approximately 45% is direct to consumer.
Amer Sports, led by CEO Heikki Takala, has made a series of similar purchases in the past years, including Armada (for $4M), EvoShield and Enve (for $50M)