PARIS — In a move to strengthen its premium positioning, Lacoste said Thursday that it has acquired Tecnifibre, the French company specialized in tennis and squash equipment.
Lacoste Holding has taken an 80 percent stake in Major Sports, Tecnifibre’s parent company. Financial terms of the deal, which will go into effect on Oct. 1, were not disclosed.
Thierry Guibert, chief executive officer of Lacoste Group, referred in a statement to “valuable synergies for both companies: the acceleration of international development for Tecnifibre and the development of technical products under the Lacoste brand.”
Tecnifibre’s portfolio includes a range of rackets, cords and accessories for tennis, squash and paddle tennis. Through a partnership with Bridgestone, it also has a line of balls.
Tecnifibre sells primarily in France through a specialized distribution channel and is expanding its geographic reach — particularly elsewhere in Europe and in the U.S.
Lacoste’s link to tennis goes back to its founder René Lacoste, nicknamed “the crocodile,” who won seven Grand Slam single titles. The brand, famous for its crocodile logo, is represented today by more than 100 top players in tennis and golf, hailing from more than 20 different countries.
Lacoste also sponsors tennis tournaments, such as Roland Garros, the Miami Open and the ATP Finals.