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Why Elite Female Athletes Are Turning Away From Major Sponsors
Smaller brands are working with athletes in different ways, like giving them equity or roles in developing products, and are paying more attention to their personal stories.
“As athletes we’re always going to struggle with that sense that we only have value if we can run fast, jump far or throw far,” the steeplechaser Colleen Quigley said.Credit.Leah Nash for The New York Times
July 30, 2021Updated 9:19 a.m. ET
Athleta, the activewear brand for women and girls owned by Gap Inc., had never sponsored an athlete when it approached the six-time Olympic champion sprinter Allyson Felix in 2019, shortly after she took Nike to task for its pay practices for pregnant runners.
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Transaction Expected to be Net Income (Loss) Accretive in 2022
Management to Host Prepared Remarks at 8:30 am ET Today
Laird Superfood, Inc. (NYSE:LSF) ( Laird Superfood or the Company ) today announced that on May 3, 2021 it entered into a definitive agreement to purchase all of the equity interests of fellow Central-Oregon based Picky Bars, LLC, innovators in the healthy snack industry focused on nutritionally balanced, real-food products to fuel performance, for a total purchase price of $12.0 million in cash and stock subject to a customary post-closing working capital adjustment. The transaction closed simultaneously with execution. The transaction represents an acquisition multiple of approximately 1.2x estimated 2022 revenue. Laird Superfood expects the transaction to be supportive of its path to an improving gross margin profile and accretive to the net income (loss) of Laird Superfood in 2022 and beyond. In 2021, the Company does not expect the transaction to hav
Laird Superfood of Sisters acquires Bend’s Picky Bars for $12 million
SISTERS, Ore. (KTVZ) One popular Central Oregon-based healthy food-maker Laird Superfood of Sisters is acquiring another Bend s Picky Bars for $12 million, the two companies announced Tuesday.
In a news release, Laird Superfood said it entered into a definitive agreement Monday to purchase all of the equity interests of fellow Central-Oregon based Picky Bars, LLC, innovators in the healthy snack industry focused on nutritionally balanced, real-food products to fuel performance, for $12 million in cash and stock, subject to a customary post-closing working capital adjustment.
The transaction closed simultaneously with execution. The transaction represents an acquisition multiple of approximately 1.2x estimated 2022 revenue, Laird said.
Dive Brief:
Plant-based manufacturer Laird Superfood acquired Picky Bars, a provider of energy bars and nutritionally enhanced oatmeal and granola, for $12 million in cash and stock.
Picky Bars, founded by professional athletes in 2010, specializes in clean-label products with a balanced protein, fat and carbohydrate content. Its offerings, which had previously been sold only direct to consumer, will be offered through Laird Superfood s omnichannel platform across the U.S.
The acquisition is Laird Superfood s first since going public in September. It also marks the company s expansion into product segments beyond its functional, beverage-focused portfolio, which includes coffees, coconut-based creamers, powdered drink mixes, coconut waters and dried fruit and nuts.