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Lululemon Founder Wants to Be Part of Amer Sports Takeover Group, Reports Say

Anta Sports Products Ltd. and private equity firm FountainVest Partners made a push in September to take over Finland-based sporting goods company Amer Sports Corp. And now another power player may be joining the group.

According to a Bloomberg report, Chip Wilson, the billionaire Canadian founder of Lululemon Athletica Inc., is close to teaming up with the other investors. The report states he could take a roughly 20 percent stake. Also joining the mix, according to Bloomberg, is China-based Tencent Holdings Ltd.

The Bloomberg report stated shares of Amer climbed 5.5 percent to 34.9 euros ( $39.6) at the close Monday on the Nasdaq Helsinki stock exchange. Today, shares were at 35.11 euros as of 1:30 p.m. ET.

Amer Sports Corp. is the parent company to several brands, including Salomon and Arc’Teryx. The company confirmed in September that it received the takeover bid and stated its was not “engaged in any negotiations” with the group. Reports stated the offer was worth 4.6 billion euros, or $5.3 billion at the conversion rate at the time of publication.

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Other than Salomon and Arc’Teryx, Amer Sports is the parent company to other sports-related brands such as Wilson, Peak Performance, Precor, Sports Tracker and Armada Skis.

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