Amer Sports explores sale of Mavic cycling brand
15/03/2019
It expects completion of this transaction and the transfer of ownership to take place during the second quarter of 2019.
The decision to divest Mavic, which specialises in cycling systems and equipment, comes following a strategic review that Amer has carried out into its cycling business. This is part of its updated strategy, which it launched in September 2018.
Upon making this announcement, Heikki Takala, president and CEO of Amer Sports, said: “Over the past cycle we have concluded that we are not the best owner for Mavic which only represented approximately 3% of our sales and which has distinct business drivers and little synergies vs. the broader Group. We believe that the iconic Mavic brand has strong potential, which would be better realised as part of Regent.”
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