By
Bloomberg
Published
Jan 4, 2024
Amer Sports Inc., the maker of Wilson tennis rackets and Salomon ski boots, has filed for a US initial public offering.
The company has picked Goldman Sachs Group Inc., Bank of America Corp., JPMorgan Chase & Co. and Morgan Stanley as bookrunning lead managers of the share sale, according to a press release confirming an earlier Bloomberg News report. Amer is targeting an IPO of more than $1 billion and a listing could value the firm at as much as $10 billion, people familiar with the matter have said.
The Finland-founded company, which is backed by China’s largest athletic-apparel producer Anta Sports Products Ltd., also owns brands including Louisville Slugger baseball bats, Arc’teryx outdoor gear and Atomic winter equipment.
Amer Sports has more than 10,800 employees globally, and offices in Helsinki, Munich, Krakow and Shanghai, the press release shows. Its 2022 revenue was $3.5 billion, according to the release. The company is seeking to sell shares on the New York Stock Exchange under the symbol AS.
A consortium led by Anta acquired Amer Sports for about $5.2 billion in 2019 as part of an effort to bring high-end athletic equipment to China’s increasingly wealthy middle class. The buyer group also included Tencent Holdings Ltd. and Chip Wilson, the billionaire founder of yoga-apparel retailer Lululemon Athletica Inc.