Bifogade filer
USWE Sports AB divests VOID Cycling to the WeSports Group – enters into strategic cooperation agreement
Prenumeration
Beskrivning
| Land | Sverige |
|---|---|
| Lista | First North Stockholm |
| Sektor | Handel & varor |
| Industri | Detaljhandel |
USWE Sports AB (publ) ("USWE" or the "Company"), listed on Nasdaq First North Growth Market, has entered into an agreement to sell the VOID Cycling brand to the WeSports Group through Spobik AB ("WeSports") and has simultaneously entered into a three-year strategic cooperation agreement.
The transaction essentially involves WeSports acquiring the VOID brand, associated intellectual property rights, website and domains. As part of the agreement, USWE will receive a small future financial compensation related to the sale of VOID products over a three-year period. The buyer will also take over the existing inventory of VOID products at book value and has also undertaken to provide compensation to USWE for VOID's website and its transfer to WeSports. The purchase price is estimated to amount to a cash compensations of approximately SEK 4.4 million in addition to the small future compensation as above. The closing is planned to take place in June 2025. Of the Company's net sales per brand, VOID accounted for approximately 3 (2) percent during the financial year 2024/2023 (2023/2022), corresponding to SEK 4.2 (2.0) million, with a gross profit of approximately SEK 1.6 (0.9) million.
The transaction also includes a three-year strategic partnership where WeSports commits to market and sell USWE's products as a prioritized brand, while USWE assists WeSports with sourcing and product development for VOID's existing product portfolio. Within the framework of the partnership, WeSports will, among other things, carry out marketing activities to strengthen brand awareness and sales of USWE's products in WeSports' sales channels.
“The sale of VOID is a strategic move that allows USWE to focus on our core brands – USWE and Giant Loop – which are both growing strongly. We’re excited to see VOID develop further within WeSports, who have the right platform and capabilities to scale the brand. At the same time, we look forward to our strategic collaboration”, says Jacob Westerberg, CEO of USWE Sports AB.
“VOID is a well-recognized brand in the cycling space, with unique design and a clear identity. We see great potential in growing VOID within our portfolio. We’re also excited to collaborate with USWE going forward“, says Ted Sporre, CEO of WeSports Group.
About WeSports Group
WeSports Group is a Nordic sports equipment specialist group. We are leaders in our key categories Bikes & Mobility, Running & Outdoor, and Fitness & Team Sports – and strive for expansion in further sports and lifestyle areas. WeSports Group targets elite athletes and active individuals through online- and physical stores, while distributing own- and external brands.
We acquire and develop specialist companies, allowing them to operate independently, within a decentralized structure, and take advantage of shared infrastructure and strategic support. In 2024, WeSports Group achieved a proforma turnover of 2.5 billion SEK, driven by strong organic growth and solid profitability.
Read more about WeSports Group: www.wesportsgroup.com
About Spobik
Spobik is the largest bike specialist in the Nordics. The company operates eight physical stores, ten online stores, and has an annual turnover exceeding 600 MSEK. Spobik’s team has many former professional cyclists, whose expertise and know-how has been advantageous in achieving the company’s #1 position – offering a top-of-the-line assortment and personalized service. Spobik was acquired by WeSports in 2020.
Read more about Spobik: www.spobik.se