HELSINKI (BRAIN) — The board of directors for Amer Sports has issued a statement in support of a bid by an investor group to buy the company's outstanding shares. Amer is the parent company of Mavic and Enve as well as an array of other sports brands.
The investor group is led by China's Anta Sports.
"The Amer Sports board believes that the investor consortium's potential to contribute further capital and resources to the business of Amer Sports will benefit the activities of Amer Sports in the future. With the support and experience of the investor consortium, the Amer Sports board believes that Amer Sports can accelerate the expansion of its businesses in the Chinese market in particular. The Amer Sports Board also notes the investor consortium's statements in relation to investing capital and resources in product development and human talent on a global basis," the board recommendation reads in part.
The board statement noted that the investor group plans for Amer Sports to be operated independently from Anta Sports, with a separate board of directors. "Under the new ownership, Amer Sports' management team would have the autonomy to execute on its business plan under the strategic direction of the board of directors," the board said. The board recommended that shareholders accept the offer.
Besides Anta, the investor group includes FountainVest Partners, Anamered Investments and Tencent. Anamered Investments is owned by Chip Wilson, the founder of Lululemon.
