The Finnish company that bought Armada in 2017, Amer Sports, are themselves on the brink of being taken over by a consortium led by China’s Anta Sports. The offer values Armada’s parent company at $5.23 billion.
The consortium includes several Chinese private equity firms. They say that, if successful they will run Amer separately from Anta.
Reuters on Thursday reported that Amer Sports are to now close to signing the deal, with shareholders, representing a 7.91% stake in the company, have already accepted the offer.
As well as Armada, Amer also owns Salomon, Atomic and Peak Performance, amongst other famous ski brands.
If the deal goes through, it will surely tighten China’s grip on global ski industry, ahead of the next Winter Olympics: Beijing 2022.
Read more on the takeover here.