Amer Sports is focusing its portfolio by selling off its Mavic cycling business.
PRESS RELEASE: Amer SportsAmer Sports
has entered in an exclusivity period with Regent
, a US based global private equity firm, for the sale of the shares and related cycling business of Mavic S.A.S. The project for this sale will now be presented to the relevant employee representative bodies. The completion of the contemplated transaction and the transfer of ownership is expected to occur during the second quarter of 2019.
The intended divestment of Mavic follows Amer Sports’ comprehensive strategic review process on the Cycling business, which the company announced while updating its strategy in September 2018. The divestment would not have impact on the results of Amer Sports’ continuing businesses. Amer Sports has reported its Cycling business as discontinued operations for full year 2018.
Regent is focused on innovating and transforming businesses across diverse industries including technology, consumer products, retail, industrial, and media and entertainment, and has a strong track record for redeploying and repositioning consumer brands.