WeSports Scandinavia AB ("WeSports Group") strengthens its position in Bike & Outdoor by acquiring VOID Cycling from USWE Sports AB (publ). The deal also includes a three-year strategic partnership.
VOID Cycling is a Swedish premium brand for cycling clothing and accessories. WeSports is acquiring the brand including intellectual property rights, website and digital domains as well as existing inventory at book value.
The purchase price amounts to approximately 4.4 MSEK in cash, in addition to a three-year royalty agreement. Within the framework of the partnership, USWE becomes a prioritised brand in WeSports' sales channels. WeSports will drive marketing and sales to increase the visibility and sales of USWE's products, while USWE supports WeSports with product development and sourcing linked to VOID's range.
"The sale of VOID is a strategic step that allows us to focus on our core brands USWE and Giant Loop, both of which are growing strongly. We look forward to VOID developing further within WeSports Group, which has the right platform and conditions 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-known brand in cycling with a unique design and a clear identity. We see great potential to grow VOID in our portfolio and look forward to the collaboration with USWE going forward," says Ted Sporre, CEO of WeSports Group.
Source: WeSport’s newsroom.
