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.