Press release: Amer Sports acquires Armada, a US ski brand
Amer Sports Corporation
PRESS RELEASE
March 29, 2017 at 9:00 a.m.
Amer Sports acquires Armada, a US ski brand
Amer Sports Corporation acquires Armada, the iconic US ski brand, with annual net sales of approximately USD 10 million. The acquisition includes the Armada brand, Armada-branded products, as well as intellectual property and distribution rights. The transaction value is approximately USD 4.1 million, of which USD 2.5 million will be settled with cash. Armada will be integrated into Amer Sports Winter Sports Equipment business unit.
“The acquisition enables us to further accelerate especially in the US market where Armada has a solid presence. Further, the acquisition is synergistic, as we have already in the past collaborated with Armada through a joint manufacturing arrangement. We’re pleased to welcome Armada into our portfolio of strong, well-positioned brands”, says Michael Schineis, President of Amer Sports Winter Sports Equipment.
The acquisition has no material impact on Amer Sports 2017 financial results.
As many of you have probably heard about already Amer Sports just bought Armada Skis for a whooping 4.1 million US Dollars. How this will affect the Brand, their Team riders and their products still remains to be seen. Unfortunately for Freeskiing one of the biggest core companies got sold to one of the biggest Sports Brands.
The question remains if Armada can still be seen as a core Freeski company or if you want to put them on the same level as Atomic. We dearly hope the company will be able to make amazing products and keep their Athletes as involved as before…
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