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Consolidation continues in the ski business as Amer Sports Corporation announced they have acquired Armada Skis as part of their winter sports division.
Amer Sports is a Finland-based sporting goods industry giant with internationally recognized brands including Salomon, Wilson, Atomic, Arc’teryx, Mavic, Suunto and Precor.
Armada is a manufacturer of skis, poles, technical outerwear and skiing-related softgoods, based in Park City, Utah with a European office in Innsbruck, Austria. The company’s products are sold in over forty countries worldwide through wholly owned subsidiaries and distributors.
Hans Smith, Armada Co-Founder commented on the acquisition with Prime Skiing, “We were looking for a partner who could provide us the financial stability to make Armada sustainable for years to come, and Amer liked what they saw in our brand and product. So there was a mutual interest in coming together. We make really really good skis and outerwear, but no one’s accused us of being the most business savvy guys in the industry. Getting backing from Amer – with their expertise in manufacturing, finance and operations – gives us the business support to do what we do for a long time to come, only better than we have in the past.“
“Amer acquired Armada because they’re fired up on Armada. Under Amer; the brand, product development, marketing and sales will operate independently. The brand doesn’t change. The gear we make doesn’t change – outside of potential product extensions. And our attitude doesn’t change.
Armada is only enhanced because of this new support from Amer – nothing that people love about the company is changing. We’ll keep developing great products, we’ll keep supporting athletes doing incredible things in skiing around the world and we’ll keep doing it all in a way that makes skiing fun. The only change is now we’re doing it with the solid financial backing of an outdoor-focused company in Amer.“
This aquisition appears on the outset to be very similar to the purchase of Arc’teryx a decade ago.
See the press release below for more details…
Amer Sports press release:
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.
For further information, please visit armadaskis.com.
