As part of the deal, IIC and Arklyz have agreed on close cooperation, which they say will bring synergies and beneficial development for all parties involved.
The sale will allow Intersport to further strengthen its core business to focus on sports performance retail. The deal is expected to close by the end of July.
Arklyz will take over the worldwide TAF business, including its trademark rights and all franchise agreements.
Since TAF’s franchise rights are often with the respective national Intersport organisations, and will remain in place, consequently IIC and Arklyz will be in an even closer co-operation in the future, the two parties say.
It is also agreed that all the TAF personnel will be retained in Amsterdam, Netherlands, and Atlanta, Georgia.
IIC acquired TAF in 2012, with turnover reaching US$400m in 2020. Today, TAF has 564 stores in 32 markets, including Europe, the US, Mexico, Peru, Kuwait, Indonesia, Philippines, Australia, and New Zealand, and operates e-commerce platforms in those markets.
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TAF global retail sales have seen a robust growth of 47% in the first five months of 2021 vs. 2020 and of 14% vs. 2019. Under new ownership of Arklyz, and in close co-operation with IIC, TAF business is expected to continue growing fast.
IIC CEO Steve Evers says: “With Arklyz, a strong operative investor was chosen among different interested parties to ensure that TAF can continue to grow rapidly and successfully. That we have worked closely with Arklyz subsidiary Intersocks for many years has made the decision even easier, and it is our goal to further strengthen this relationship.”
The transaction helps to boost Arklyz ‘s strategic goal of further expanding its growing sports and lifestyle business, covering production, brand management, brick-and-mortar retail, and e-commerce.
“By taking over the TAF business, we believe we can strengthen our position as a global organisation,” says Arklyz owner and CEO Param Singh.
“We firmly believe in strong brands and integrated retail and online networks, and TAF is a very successful integrated player globally with a strong brand.
“TAF is the perfect addition to the existing distribution and retail activities of Arklyz, already active with brands like Crocs. The hybrid approach of delivering a great customer experience in stores as well as online aligns well with Arklyz’s approach.”