TOKYO — Asics Corp. said Monday that it has agreed to purchase 100 percent of Swedish outdoor products company Haglöfs for 1 billion Swedish krona, or $133.4 million at current exchange, from private equity company Ratos AB.
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Kobe, Japan-based Asics said it is looking to expand its apparel business by rolling out high-quality and functional products, as well as grow its core business of running gear.
“We are currently focused on further growth and expansion of our business on a global basis,” the company said. “Moreover, we are aggressively exploiting opportunities of M&A, including the alliance with other companies to boost or supplement the existing businesses within our group.”
Asics said the impact of the Haglöfs acquisition on its consolidated financial results for the year ending March 31 will be minimal.
The Japanese sports gear manufacturer said Haglöfs, which was established in 1914, posted a net profit of 48 million krona, or $6.4 million, on sales of 590 million krona, or $78.7 million, for the fiscal year ended Dec. 12. Asics said it foresees synergies between the two companies in areas such as management technology, production and sales channels.
“[Haglöfs] is aiming to expand and strengthen the sales and marketing of its highly functional outdoor products not only in the Nordic region, but also in other regions in Europe as well as in Asia,” Asics said.