Rumors and talk have been floating around for some time now but it seems that it's nearly official. China's Anta Sports Products is leading a consortium to purchase Finland's Amer Sports for a reported 5.2 billion dollars this week. Amer Sports owns both ENVE and Mavic, as well as other active brands such as Arc'teryx, Salomon, Atomic, and Suunto.
Anta Sports Products is much larger than Amer Sports and, according to Bloomberg, Anta has been working to grow its business overseas with a Chinese government push to expand in sports ranging from soccer to skiing. This expansion and push likely include bikes as well. Chip Wilson, founder of lululemon is also set to be a minority investor, potentially buying in at up to 20%. Amer Sports CEO Heikki Takala had in September talked about the potential sell-off of both Mavic and ENVE, citing that there may be a better owner than Amer for those two brands. He was quoted saying, "we are not able to give them (Mavic/ENVE) enough scale and synergy potential."
So what does all of this mean for ENVE and Mavic? Likely nothing for now. Deals like these take quite some time to negotiate and although it sounds as if the deal is very close to, if not already finalized, we suspect it's unlikely that there will be any changes anytime soon. However, with the Chinese government pushing to expand sports it will be interesting to see if those two brands stay on as part of the deal or if they are still being considered for sale.
We have reached out to representatives at both Mavic and ENVE for comment and will update the story with anything we learn.
More people need to try your wheels!
Now in the Great White North we have a bunch at 8 % now that is beer, puts hair on you chest, you need it cause it gets pretty fing cold here.
Their product is good enough that it shouldn't need those slimey tactics. As Canadians we shouldn't go there.
Also unaffiliated with WeAreOne but love their product. Better quality than other carbon rims I've tried and even after a full season of abuse they look great.
They've been supporting the Canadian Enduro Series for a few years now. It's a bummer that you find it 'slimey' when a company actually supports grassroots initiatives in their own backyard - WAO helps me keep the series running by providing prizing to the racers - so when I see a multinational that contributes zero to my riding community, for sure I'm gonna fly the flag for those that do.
Look at our series for example, we're pretty much held up by Canadian companies, the last two years we were with MEC, this year with Norco, we have brands like Whistler Performance Lubricants, Kazoom Custom Jerseys, Raceface, WAO - if this article was about lube, jerseys or handlebars, you can bet your poutine I'd be throwing love to Canadian companies that help the industry. It's not slimey, it's recognition for a job well done. Next time one of your buddies complains about his Ford and you chyme in how you're a Chevy guy,
@racerfacer:
My comment was flat out asking you if you work for we are one. Simple. Yes or no.
If no, then it is awesome that you are giving we are one (deserved) props.
If you do work for them, it is a similar annoying tactic that one of their guys used to do on the pinkbike forums. A wheel review about any brand, and he was in there leading off with " check out we are one, they are hand laid..." Almost word for word what you typed. That was the reason I asked that one question - and once again not attacking their support of grassroots programs.
When I called him out about it in one of the threads, Dustin personally took the time to contact me and apologize for the lack of professionalism.
What year is your hoody?
Mine is 3 years old and going strong. If their quality has taken a dive in recent years then it's good to know.
They have a lifetime warranty. My Gamma MX Hoodie looks as good as new after 6 years, and I'll probably get another one in smaller size, as I've lost some weight and the L is a bit more baggy on me now.
Did you get any prizes delivered from Fantasy?
Jack: “That’s the best presentation I’ve ever seen. Get started right away.”
-30 Rock
What does it really mean for us? Personally I don’t buy bike stuff from companies that aren’t run by people who get off on cycling. As soon as it’s all about business, I’m out.
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North Korea anyone
Well, I like Chinese (they only get up to your knees).
m.pinkbike.com/news/win-an-enve-m730-wheelset-pinkbikes-advent-calendar-giveaway2.html
Asians: I know, let’s just buy the American companies to avoid the product tax...
The cycling businesses, according to Amer, are 'under strategic review'. Anta is buying Amer but leaving the management structure in place, so if Enve and Mavic are sold-off it will be Amer's doing.
Privately Owned
Santa Cruz, Juliana, Cervelo, Focus owned by Pon Holdings
Rocky Mountain owned by Procycle Group
Electra, Gary Fisher, Diamant, Villiger, and Bontrager owned by Trek owned by Intrepid Corporation
Specialized owned 51% privately and 49% by Merida Industry (public traded)
Devinci owned by Felix
YT owned by Markus
Yeti owned Chris and Steve
Transition owned by Kyle and Kevin
Intense owned by Jeff
Canyon owned by Roman and TSG Consumer Partners
Orbea owned by Mondragón Cooperative Corporation
Diamondback and Raleigh owned by ??
Publicly Traded (owned by shareholders)
Giant & Liv
Cannondale, Schwinn, GT, Mongoose, Caloi, IronHorse, and Sugoi are owned by Dorel Industries
I'm sure you know of it but the Paul Frank story is similar but probably worse.
www.vanityfair.com/news/2006/09/paulfrank200609
China currently has one the cheapest and most abundant labor resources in the world. Combined with free trade agreements and weaker environmental regulations, there's no question why almost all manufacturing has moved to China. With almost all manufacturing moving to China, that means there is more wealth in China as well. When wealth grows, it tends to get invested to grow it further. There are many ways to invest like investing where the largest opportunity for growth lies, but one way is to buy the supply chain for a product to further maximize profit (via synergies). This kind of consolidation which moves toward a monopolistic market is not good for the consumer and our sport, it only supports corporate owners/investors whether they be Chinese or American, etc.
eeee, tu si malo zajebo... ENVE is made in USA....
#Communism
Kids being put into concentration camps because of their religion (Xinjiang, right now)
#Communism
Let me fix that for you...
Canadian provinces also still allow the exploitation of indigenous lands by businesses and the lucrative extraction of natural resources on these lands, something which indigenous peoples oppose.
#capitalism