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Earlier today it was reported that the acquisition had taken place. As part of the deal, Signa Sports United (SSU) has agreed to trade on the stock exchange in New York. Merging with Yucaipa Acquisition Corporation, Signa has set its sights on becoming the global leader in sporting goods.
Bridgepoint, WiggleCRC’s current majority owner will become an investor, receiving shares in the new public company. Venture capitalists, Bridgepoint acquired Wiggle back in 2011, but it wasn’t until 2016 that Wiggle and CRC merged. In 2017, WiggleCRC bought their closest competitor, Bike24 for a reported £100million before selling it back to Riverside Company in September 2019.
We’re proud and excited by this next chapter in SSU’s growth story. Becoming a listed company allows us to continue capturing market share in Europe and to accelerate our U.S. and international expansion while scaling our platform solutions.Stephan Zoll, CEO of SSU
In a press release published on the SSU site, it was detailed that combined, the company is set to become one of the world’s largest pure-play sport, e-commerce and technology platforms with expected revenue of $1.6 billion this financial year (ending September 2021).
The combined value of the company following this new deal is approximately $3.2 billion.
SSU is a global leader in the fastest-growing sports categories and is well-positioned for continued success as a public company.
With its technology platform – and a combination of scale, international growth and profitability – we expect SSU to grow its leadership positions and accelerate its global expansion. We look forward to becoming shareholders and partnering closely with the talented SSU team on this exciting journeyRon Burkle, Chairman and President of Yucaipa
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