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Amer sells Suunto to Chinese tech company

Published January 11, 2022

VANTAA, Finland (BRAIN) — Amer Sports has sold the Finnish adventure wearables brand Suunto to Liesheng, a Chinese technology brand. Amer is the parent of Enve Composites, Louisville Slugger, Arcteryx, Wilson and other brands, and the former owner of Mavic. Amer has been owned by the Chinese sports brand ANTA since 2018. 

According to Suunto, the transaction has been signed and it's expected to close in the first half of 2022.

Founded in Guangdong, China in 2015, Liesheng products are sold in more than 100 countries around the world. One of its consumer electronics brands is Haylou, which sells earbuds, sports watches and similar products. 

Amer Sports said it divested of Suunto as it refocuses its brand portfolio. "Amer Sports’ strategy is to focus on developing internationally recognized sporting-goods brands within the lifestyle, apparel, and footwear segments, shifting more business to D2C (direct-to-consumer) channels, as well as enhancing its presence in large markets such as China and the US," the company said.

Michael Hauge Sørensen, Amer's COO, said, “We see tremendous potential with all of our brands. Suunto, as a manufacturer of world-renowned sport watches, dive computers and precision instruments, is not in the core focus of Amer Sports. After a careful review, we have concluded that an owner such as Liesheng, with its foundation in technology and R&D, is desired to unlock the full potential of Suunto. We believe that this transaction is a good fit for all parties.” 

Heikki Norta, Suunto's Brand President, said the company will remain in Finland and he expects little change from a consumer perspective. "Suunto brand and our products and digital services, watch update frequency, data protection practices, customer support and service – all of these and more continue normally," he said in a company statement Monday.

"During the past 22 years Amer Sports has offered Suunto a family of like-minded brands and an opportunity for the 85-year-old Finnish adventure brand to grow globally. I'm excited to start now the next phase of our journey and join forces with Liesheng. We make a great fit as our operations, markets and products complement each other," Norta said.

Topics associated with this article: Mergers, Acquisitions & Investments

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