Chip Wilson Slides Back Into Winter

by The Editors on December 9, 2018

Billionaire Westbeach co-founder Chip Wilson (his other little start-up was Lululemon Athletica) has joined forces with Chinese sportswear giant Anta Sports Products Ltd and some others to purchase Finland based Amer Sport, owners of Salomon, AtomicArc’Teryx, Suunto, Mavic, Percor, and Wilson for $5.2 billion, according to a story on Bloomberg.

The consortium, which includes Chinese buyout firm FountainVest Partners, will offer shareholders of Finland’s Amer Sports Oyj 40 euros a share in cash, or about 4.6 billion euros. The deal is the largest struck by a Chinese acquirer for a European asset since China Investment Corp. agreed to buy Logicor Europe for almost $14 billion in June 2017, according to data compiled by Bloomberg.

Guess Chip just couldn’t stay away from the snow any longer.

[Link: Bloomberg]

 

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