Please ensure Javascript is enabled for purposes of website accessibility Sports retailer SPAC powers M&A cycle | #sports | #elderly | #seniors – Active Lifestyle Media

Follow or share

SportsSports retailer SPAC powers M&A cycle | #sports | #elderly | #seniors

Sports retailer SPAC powers M&A cycle | #sports | #elderly | #seniors


Cycling – UCI Road Cycling World Championships – Tirol, Austria – September 23, 2018 Team Sky during the Men’s Team Time Trial

Online sports retailer Signa Sports United is going public via a U.S. blank-cheque company in a deal that values it at $3.2 billion. SSU owns e-commerce and technology brands for sports like cycling and tennis. At 2 times expected sales in the year to September 2021, the valuation is cheap compared to Britain’s THG (THG.L), which has a similar model for cosmetics and trades at almost 3 times forward sales, according to Refinitiv.

SPAC sponsor Ron Burkle, who began his career in a grocery store, gets arguably the best deal. He ends up with stock worth $150 million having invested just a third of that. And SSU gets a dollop of cash to fuel its M&A cycle: on Friday it said it was buying online bike retailer WiggleCRC from Bridgepoint, which also receives shares in the new outfit. The buyout group will be hoping it’s hooked up with a winner. (By Dasha Afanasieva)

On Twitter http://twitter.com/breakingviews

Capital Calls – More concise insights on global finance:

Aussie food fight finish augurs more M&A battles read more

Japanese bank risk appetite rises late read more

Fed’s inflation-messaging dilemma worsens read more

Ad spending surge makes Big Tech bigger read more

Tech IPO scepticism spreads to France read more

Reuters Breakingviews is the world’s leading source of agenda-setting financial insight. As the Reuters brand for financial commentary, we dissect the big business and economic stories as they break around the world every day. A global team of about 30 correspondents in New York, London, Hong Kong and other major cities provides expert analysis in real time.

Sign up for a free trial of our full service at https://www.breakingviews.com/trial and follow us on Twitter @Breakingviews and at www.breakingviews.com. All opinions expressed are those of the authors.





Clink Here For The Original Source

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Leave a Reply