September 6, 2018 / 6:55 AM / 2 months ago

Amer Sports to review options for cycling, fitness and sports watch businesses

HELSINKI, Sept 6 (Reuters) - Finnish sporting goods maker Amer Sports late on Wednesday put its Mavic cycling business up for possible sale and said it would at a later stage also assess strategic options for its fitness equipment and sports watch businesses.

* Company said it would further drive transformation towards areas of faster growth, higher profitability, and better asset efficiency.

* Amer said it would place Mavic cycling business under strategic review.

* Mavic represents about 3.5 percent of the group total sales of 2.7 billion euros ($3.1 billion) in 2017.

* Amer also said it would later on assess long-term strategic options, including standalone opportunities, for its Fitness business, including Precor gym equipment, and Sports Instruments unit, including Suunto sports watches.

* Amer’s brand portfolio also includes Wilson tennis rackets, Salomon skis and Louisville Slugger baseball bats.

* In June, Amer also bought Swedish sports fashion brand Peak Performance for about 255 million euros ($296 million)

* Amer is holding its capital markets day on Thursday. ($1 = 0.8604 euros) (Reporting by Jussi Rosendahl; Editing by Jacob Gronholt-Pedersen)

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