Amer Sports completes acquisition of Peak Performance

Amer Sports Corporation announced through a statement that it has completed the acquisition of Peak Performance from IC Group. The company said, Peak Performance business will be consolidated into Amer Sports as of July 2, 2018 and that the acquisition will have a minor positive impact on Amer Sports' 2018 financial results.

"We are delighted to welcome Peak Performance to Amer Sports. With Peak Performance in the portfolio, we are now increasingly well positioned to accelerate our growth in Softgoods,” said Amer Sports President and CEO Heikki Takala in a statement.

Jon Hoerauf named President of Amer Sports apparel category

In conjunction with the acquisition, to enable faster growth and scale and synergy across the apparel brands Arc'teryx, Salomon, and Peak Performance, Amer Sports added that the company has established a new apparel category structure with a dedicated leadership under an executive board president.

Effective immediately, Jon Hoerauf, general manager Arc'teryx, is appointed President Amer Sports Apparel Category, and member of Amer Sports’ executive board, who will continue to report to Takala.

“To enable this acceleration and to achieve our targeted operational scale benefits across the portfolio, we are re-establishing an apparel category structure. We are pleased to appoint a strong internal leader with an outstanding track record, Jon Hoerauf, as President for the category," added Takala.

Hoerauf, the company added, has a long executive career in the apparel and outdoor industry, of which the past six years in Amer Sports, and past three years as general manager, Arc'teryx.

Meanwhile, in a separate media release, IC Group said that the net proceeds from the Peak Performance divestment are expected to amount to 1.7 - 1.8 billion Danish Krone, which are expected to be distributed to the shareholders as extraordinary dividend following the announcement of the company's annual report for 2017/18 on August 28, 2018.

Picture:Peak Performance website