Large outdoor industry player Amer Sports has confirmed speculation in a statement that it has received an all-cash buyout bid. The news comes following announcement of plans to sell off some brands within its cycling stable.The company’s current brand portfolio includes Salomon, Arc’teryx, Peak Performance, Atomic, Mavic, Suunto, Wilson and Precor, among others.
The offer came from Chinese footwear business Anta and private equity group FountainVest Partners. The statement issued on the bid said shareholders can expect to receive a cash consideration of €40 per share for all of their shares in Amer Sports, should the takeover go ahead. The bid is for the entire share capital of Amer Sports. The statement was issued primarily to settle speculation, and negotiations have not begun and no decisions have been made, said the company.
Valued at around €3.4 billion, Amer Sports has not been able to reverse some of the declines seen in recent times, in particular within the cycling segment.