Amer Sports and Liesheng – a Chinese technology company focusing on the smart and sport wearables electronics segment – have agreed on a transaction in which Amer Sports sells Suunto to Liesheng.
“We see tremendous potential with all of our brands,” said Michael Hauge Sørensen, chief operating officer of Amer Sports. “Suunto, as a manufacturer of world-renowned sport watches, dive computers and precision instruments, is not in the core focus of Amer Sports.
“After a careful review, we have concluded that an owner such as Liesheng, with its foundation in technology and R&D, is desired to unlock the full potential of Suunto. We believe that this transaction is a good fit for all parties.”
Founded in Guangdong, China, in 2015, Liesheng is an innovative global consumer-electronics company with its products being sold in more than 100 countries around the world. It is ranked top globally in the wireless audio field and has successfully developed the consumer electronics brand Haylou.
“The acquisition of Suunto is an important part of our growth strategy, and we see great synergies between the two companies,” said Ma Hao, chairman of Liesheng. “As a global consumer-electronics company, Liesheng offers Suunto unique technological advantages in product development, centralised sourcing, and access to wider international markets, especially in Asia. For Liesheng, Suunto offers access to new markets and product categories, in addition to Suunto’s strong brand heritage.”
Heikki Norta, CEO and brand president of Suunto, said: “Suunto has developed into an iconic global brand in outdoor sports and adventure under the ownership of Amer Sports. I’m excited to start the next phase of our journey and join forces with Liesheng.
“Our operations complement each other well, with no overlapping products and markets. Having a focused and successful wearables-industry player as Suunto’s owner will help power Suunto’s growth and broaden our shoulders in innovating fit-for-purpose products for outdoor adventures.”
The transaction has been signed and is expected to close in H1 2022. Rothschild & Co acted as financial advisor and Avance as legal advisor to Amer Sports.