Amer Sports buys Peak Performance for 255 million euros

The Finnish sporting goods company Amer Sports Corporation buys Peak Performance and makes a significant change in Scandinavia. For 1.9 billion Danish kroner, about 255 million euros, the Swedes change hands. Earlier, the Danish clothing group IC Group A/S had declared to initiate a "strategic investigation" to clarify the future of Peak Performance.

The purchase is to be completed in the course of the summer. Until then, the competent competition authorities must still agree. "It has been a long and serious selling process with many willing and qualified buyers," said Peter Thorsen, Chairman of IC Group, in a statement.

Amer Sports intends to further strengthen its apparel segment and direct customer business by acquiring the outdoor brand. "With this acquisition, we are taking another important step towards our long-term goal of increasing clothing sales to over 1.5 billion euros," said CEO Heikki Takala. The Finnish group already owns brands such as Arc'teryx, Salomon, Wilson and Atomic.

Amer Sports has "the skills, capacity and resources" to drive Peak Performance's strategy forward at a faster pace and enable the brand to "leverage its great international potential," said IC Chairman Thorsen. Peak Performance is said to have generated sales of 145 million euros in the past twelve months.