Amer Sports, Inc. is a Finnish multinational sporting equipment company based in

Helsinki Helsinki () is the Capital city, capital and most populous List of cities and towns in Finland, city in Finland. It is on the shore of the Gulf of Finland and is the seat of southern Finland's Uusimaa region. About people live in the municipali ...

, Finland. Established in 1950 as an industrial conglomerate with interests as diverse as tobacco trading, ship owning and publishing, Amer has gradually evolved into a multinational firm devoted to the production and marketing of sporting goods. The company employs over 9,700 people. Amer Sports owns a portfolio of companies, including Atomic,

Arc'teryx Arc'teryx is a Canadian apparel company specializing in outdoor apparel and equipment headquartered in North Vancouver, British Columbia. It focuses on technical apparel for mountaineering and Alpine sports, including related accessories. The com ...

, Armada, Enve Composites, Peak Performance, Salomon, and Wilson, among others. Amer is itself owned by Chinese retail conglomerate

Anta Sports Anta Sports Products Limited is a Chinese sports equipment multinational corporation headquartered in Jinjiang, Fujian, Jinjiang, China. It is the world's third-largest sportswear company by revenue, behind Nike, Inc., Nike and Adidas ahead of L ...

History

Industrial past (1950–1985)

The company began life as a

tobacco Tobacco is the common name of several plants in the genus '' Nicotiana'' of the family Solanaceae, and the general term for any product prepared from the cured leaves of these plants. More than 70 species of tobacco are known, but the ...

manufacturer and distributor, Amer-Tupakka, in 1950 (later to be renamed Amer-Yhtymä Oyj followed by its current designation) and acquired the right to produce and sell Philip Morris cigarettes in Finland in 1961. In the 1960s, the significant profits from the company's tobacco interests were invested in three commercial ships. A

publishing Publishing is the activities of making information, literature, music, software, and other content, physical or digital, available to the public for sale or free of charge. Traditionally, the term publishing refers to the creation and distribu ...

and

printing Printing is a process for mass reproducing text and images using a master form or template. The earliest non-paper products involving printing include cylinder seals and objects such as the Cyrus Cylinder and the Cylinders of Nabonidus. The ...

division was added in 1970 with the purchase of the Finnish company Weilin+Göös, and the company listed on the

Helsinki Stock Exchange Nasdaq Helsinki, formerly known as the Helsinki Stock Exchange (, ), is a stock exchange located in Helsinki, Finland. Since 3 September 2003, it has been part of Nasdaq Nordic (previously called ''OMX''). After the OMX merger, it was referred t ...

in 1977, four years after changing its name to Amer-Yhtymä (). In the 1980s, Amer moved into the vehicle import industry by acquiring the firm Korpivaara, and with it the exclusive rights to import and distribute such brands as

Citroën Citroën ()The double-dot diacritic over the 'e' is a diaeresis () indicating the two vowels are sounded separately, and not as a diphthong. is a French automobile brand. The "Automobiles Citroën" manufacturing company was founded on 4 June 19 ...

and

Toyota is a Japanese Multinational corporation, multinational Automotive industry, automotive manufacturer headquartered in Toyota City, Aichi, Japan. It was founded by Kiichiro Toyoda and incorporated on August 28, 1937. Toyota is the List of manuf ...

. In 1984 Amer was listed on the

London Stock Exchange The London Stock Exchange (LSE) is a stock exchange based in London, England. the total market value of all companies trading on the LSE stood at US$3.42 trillion. Its current premises are situated in Paternoster Square close to St Paul's Cath ...

. In 1985, Amer acquired

Marimekko Marimekko Corporation () is a Finland, Finnish textiles, clothing, and home furnishings company founded by Viljo and Armi Ratia in Helsinki in 1951. Marimekko made important contributions to fashion in the 1960s. It is particularly noted for it ...

. The decade also saw the company expand into for example the plastics markets.

Focus on sport (1986–present)

Amer Sports Brand Store Helsinki entrance

The company got involved in the sports equipment market starting in 1974. They bought the Finnish ice hockey gear maker Koho-Tuote in 1974, its North East US distributor Koho Sporting Goods Corporation in 1978, the

Canadien French Canadians, referred to as Canadiens mainly before the nineteenth century, are an ethnic group descended from French colonists first arriving in France's colony of Canada in 1608. The vast majority of French Canadians live in the provi ...

hockey stick manufacturer Les Industries du Hockey Canadien Inc. as well as ice hockey protective equipment manufacturer in 1979. In 1986, Amer sold all their ice hockey related businesses but established a sports division after acquiring a majority stake in the golf equipment maker

MacGregor Golf MacGregor Golf is a sports equipment manufacturing company based in Albany, Georgia, which specializes in golf. MacGregor currently produces a wide range of golf clubs, bags, and accessories. The company roots can be traced to 1829, with the est ...

from

Jack Nicklaus Jack William Nicklaus (; born January 21, 1940), nicknamed "the Golden Bear", is an American retired professional golfer and List of golf courses designed by Jack Nicklaus, golf course designer. He is widely considered to be one of the greate ...

. In 1988, Amer represented, among others, American tobacco giant Philip Morris and held a 62 percent share of the Finnish tobacco market. A movement called Klubi 88 made a statement at the AGM claiming that Amer was the single largest causer of cancer in Finland. It said that the sponsorships by “tobacco figureheads”

Hjallis Harkimo Harry Juhani "Hjallis" Harkimo (born 2 November 1953) is a Finnish businessman, sportsperson, and a member of the Finnish Parliament. Previously a National Coalition Party MP, he chairs his own political party, Movement Now. First elected to the ...

, a sailor, and

Keke Rosberg Keijo Erik "Keke" Rosberg (; born 6 December 1948) is a Finnish former racing driver and motorsport executive, who competed in Formula One from to . Rosberg won the Formula One World Drivers' Championship in with Williams, and won five Grand ...

, a Formula 1 driver, should be stopped. Amer's CEO Heikki O. Salonen thought sports products would be a better business for the company to focus on. The company's brands included Marlboro, Marimekko,

, Weilin+Göös, and the American brand MacGregor Golf Company. In February 1989, Amer acquired the

Chicago Chicago is the List of municipalities in Illinois, most populous city in the U.S. state of Illinois and in the Midwestern United States. With a population of 2,746,388, as of the 2020 United States census, 2020 census, it is the List of Unite ...

-based company

Wilson Sporting Goods The Wilson Sporting Goods Company is an American sports equipment manufacturer based in Chicago, Illinois. Wilson makes equipment for many sports, among them baseball, badminton, American football, basketball, fastpitch softball, golf, racquetball ...

Company, which specialized in golf, tennis, and baseball products. Wilson was the largest manufacturer of sports products in the US, but it was heavily indebted. The transaction set a new record for the largest foreign acquisition in Finland. In 1991, Amer sold Marimekko to

Kirsti Paakkanen Kirsti Paakkanen ( Poikonen; 12 February 1929 — 2 November 2021) was a Finnish entrepreneur and business executive. Career Paakkanen studied advertising, and worked for many years in the marketing departments of Finnish retail companies incl ...

. The company had incurred losses of approximately 50 million euros under Amer's ownership. Further acquisitions followed in the shape of the Austrian ski manufacturer Atomic in 1994 and the Finnish sports instrument maker Suunto in 1999. The American baseball and softball bat firm Demarini was purchased a year later, falling under the Wilson division. During this time, many of the business areas no longer deemed to be

core Core or cores may refer to: Science and technology * Core (anatomy), everything except the appendages * Core (laboratory), a highly specialized shared research resource * Core (manufacturing), used in casting and molding * Core (optical fiber ...

were

divested In finance and economics, divestment or divestiture is the reduction of some kind of asset for financial, ethical, or political objectives or sale of an existing business by a firm. A divestment is the opposite of an investment. Divestiture is a ...

, although the company retained its tobacco business until 2004 when it was sold back to Philip Morris. In 2005, Amer acquired the outdoor sports company Salomon from

Adidas Adidas AG (; stylized in all lowercase since 1949) is a German athletic apparel and footwear corporation headquartered in Herzogenaurach, Bavaria, Germany. It is the largest sportswear manufacturer in Europe, and the second largest in the ...

for €485 million. In the same year, the company officially changed its name to Amer Sports Corporation. In 2007, Amer Sports' North American headquarters were moved from

Portland, Oregon Portland ( ) is the List of cities in Oregon, most populous city in the U.S. state of Oregon, located in the Pacific Northwest region. Situated close to northwest Oregon at the confluence of the Willamette River, Willamette and Columbia River, ...

to the historic American Can Company of Utah Building Complex in Ogden, Utah. Wilson NBA Indoor game ball

In 2008 Amer Sports divided its operations into three business units: winter sport, outdoor sports,

ball sports This is a list of ball games and ball sports that include a ball as a key element in the activity, usually for scoring points. Games that include balls Ball sports fall within many sport categories, some sports within multiple categories, inclu ...

( Wilson,

Louisville Slugger Louisville is the most populous city in the Commonwealth of Kentucky, sixth-most populous city in the Southeast, and the 27th-most-populous city in the United States. By land area, it is the country's 24th-largest city; however, by populatio ...

, and DeMarini). In April 2018, Amer Sports acquired the Swedish sportswear manufacturer Peak Performance from IC Group, a Danish entity. Amer Sports largest owners were Keva, the Civil and Water Engineering Fund, Ilmarinen, Mandatum and Ilkka Brotherus. In December, an investor consortium called Mascot Bidco, announced its takeover bid for Amer Sports. The consortium included ANTA Sports,

FountainVest Partners FountainVest Partners (FountainVest; ) is an Asian investment firm based in Hong Kong that invests in the private markets. The firm focuses on China's media and entertainment, sports and consumer-related sectors although it has expanded into oth ...

, Anamered Investments, and

Tencent Tencent Holdings Ltd. ( zh, s=腾讯, p=Téngxùn) is a Chinese Multinational corporation, multinational technology Conglomerate (company), conglomerate and holding company headquartered in Shenzhen. It is one of the highest grossing multimed ...

. Amer Sports shares were valued at 4.6 billion euros, 40 percent over their average market value. Under the terms of the offer, Amer Sports remained a separate business entity, while Anta Sports provide R&D and production resources required for expansion on the Chinese market. Anta Sports is China's largest sportswear manufacturer.

Chip Wilson Dennis J. "Chip" Wilson (born April 25, 1955) is an American-Canadian businessman, investor, and philanthropist who has founded several retail apparel companies, most notably the yoga-inspired athletic apparel company Lululemon Athletica. As of ...

, the founder of

Lululemon Athletica Lululemon, commonly styled as lululemon ( ; all lowercase), is a Canadian-American multinational athletic apparel retailer headquartered in Vancouver, British Columbia, and incorporated in Delaware, United States, as Lululemon Athletica Inc. ...

, owns about one-fifth of Amer Sports. Amer Sports was among the largest companies on the

, with a market capitalization of approximately 4 billion euros. In 2019, Amer Sports completed its divestment of

Mavic Mavic may refer to: * Mavic (bicycle parts company), a French manufacturer of bicycle parts * DJI ''Mavic'', a series of compact UAV drones by DJI * Mavic Chen, a fictional character in ''Doctor Who'' from the 1965 serial "The Daleks' Master Pla ...

before selling it 2020. In December 2020, Amer Sport sold Precor to the American

exercise equipment Exercise equipment is any apparatus or device used during physical activity to enhance the strength or conditioning effects of that exercise by providing either fixed or adjustable amounts of resistance, or to otherwise enhance the experience or ...

manufacturer

Peloton In a road Cycle sport, bicycle race, the peloton (, originally meaning ) is the main group or pack of riders. Riders in a group save energy by riding close (drafting (racing), drafting or slipstreaming) to (particularly behind) other riders. The ...

. In January 2022, it was reported that Amer Sports would sell

Suunto Suunto Oy is a Finland, Finnish company that manufactures and markets sports watches, dive computers, compasses and precision instruments. Headquartered in Vantaa, Finland, Suunto employs more than 300 people worldwide, and its products are sold ...

to Liesheng, a Chinese company specializing in wearable technology. In February 2024, Amer Sports went public again through an

initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investm ...

and was listed on the

New York Stock Exchange The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District, Manhattan, Financial District of Lower Manhattan in New York City. It is the List of stock exchanges, largest stock excha ...

. The company raised $1.4 billion in its offering and was valued at $6.5 billion.

Organization

The company has offices in for example Finland, Poland, Germany, China and US and manufacturing and sales locations worldwide. Amer Sports is owned by

, Anamered Investments, and

Brands

Amer Sports operates multiple brands that it has acquired over the years. *ATEC -

Baseball Baseball is a bat-and-ball games, bat-and-ball sport played between two team sport, teams of nine players each, taking turns batting (baseball), batting and Fielding (baseball), fielding. The game occurs over the course of several Pitch ...

and

softball Softball is a Variations of baseball, variation of baseball, the difference being that it is played with a larger ball, on a smaller field, and with only underhand pitches (where the ball is released while the hand is primarily below the ball) ...

equipment * Atomic -

Skiing Skiing is the use of skis to glide on snow for basic transport, a recreational activity, or a competitive winter sport. Many types of competitive skiing events are recognized by the International Olympic Committee (IOC), and the International S ...

equipment and apparel *

- Outdoor apparel for

mountaineering Mountaineering, mountain climbing, or alpinism is a set of outdoor activities that involves ascending mountains. Mountaineering-related activities include traditional outdoor climbing, skiing, and traversing via ferratas that have become mounta ...

and alpine sports * Armada -

equipment and apparel * DeMarini -

and

bats *

EvoShield EvoShield is an American brand that specializes in protective gear. Some of EvoShield products are wrist guards, elbow guards, as well as rib and heart protectors for the sports of baseball, gridiron football, lacrosse and softball. EvoShield p ...

- Sports

protective gear Personal protective equipment (PPE) is protective clothing, helmets, goggles, or other garments or equipment designed to protect the wearer's body from injury or infection. The hazards addressed by protective equipment include physical, elect ...

*Louisville Slugger - Baseball bats *Peak Performance -

equipment and apparel * Salomon - Outdoor apparel, running and hiking footwear, and winter sports equipment *

- Sports equipment

References

External links

* {{Authority control Manufacturing companies based in Helsinki Sporting goods manufacturers of Finland Manufacturing companies established in 1950 Multinational companies headquartered in Finland Finnish companies established in 1950 2019 mergers and acquisitions Exercise equipment companies Companies listed on the New York Stock Exchange 2024 initial public offerings