The Estonian manufacturer of watersports equipment Tahe Outdoors OU is continuing its international expansion and bought BIC Sport, the watersports subsidiary of the French BIC group, for 6 to 9 mln euros.
BIC told the Euronext Paris stock exchange that it has concluded the divestiture of BIC Sport, its watersports subsidiary, to Tahe Outdoors for a total enterprise value between 6 and 9 mln euros, contingent upon BIC Sport’s future financial results.
Founded in 1979, BIC Sport pioneered the windsurf industry and progressively diversified its activities to include surfing, kayaking, junior racing dinghies and stand-up paddleboarding. Headquartered in Vannes, France, BIC Sport sells its products in more than 90 countries.
Tahe Outdoors has also previously bought foreign companies. In 2017, the Estonian company acquired the German kitesurf equipment maker Hiss-tec for 13 mln euros. Tahe Outdoors in 2015 purchased German kayak brand and manufacturer of composite paddles Megasports Vertriebs GmbH and RM Artistic Sportswear, manufacturer of sports clothing and equipment.
Tahe Outdoors entered the French market in 2013 when it purchased the company Egalis S.A.S. for a few million euros.
