Asics to Buy Sweden's Haglofs to Expand Into Outdoor Gear, European Market
Asics Corp., the Japanese maker of the Onitsuka Tiger sporting-goods brand, will buy Swedish outdoor gear company Haglofs Holding AB to expand abroad.
Asics will spend 11.4 billion yen ($128 million) to buy all of the shares in Haglofs in August, according to a filing to the Tokyo Stock Exchange. The acquisition will have little impact on earnings for the year ending March 31, Kobe-based Asics said.
“Haglofs is very similar to us in terms of manufacturing skill and attitude,” Asics spokesman Toshiyuki Sano, said today by telephone. “We want to expand globally, and this will strengthen our business.”