HELSINKI (BRAIN) — Amer Sports CEO Heikki Takala made clear Thursday that the company is considering selling off both its cycling brands, Mavic and Enve. In the most gentle but firm way, Takala said there might be a better owner out there, somewhere, for the brands, both of which he called “iconic.”
“We are not able to give them enough scale and synergy potential,” he told invited guests at a Capital Markets Day presentation Thursday morning. “Rather than going and keeping going and keeping going and trying — we’ve been trying for quite some time and we’ve done good things but it’s clearly taking a lot of time and effort and it’s not responding in line with expectations.
“Hence we say we are going to put it under strategic review to make sure we understand: are we really the best owner of this business.”
On Wednesday, Amer announced that it was putting Mavic under review, but didn’t say whether Enve, which Amer bought in 2016, was included. In his presentation Thursday, Takala made clear he was referring to both brands and that the review would examine whether they should be sold off.
He said Amer was re-examining its …read more