一笔漂亮的退出：93亿卖始祖鸟股份

Core Viewpoint - The article discusses the significant share reduction by FountainVest, a major shareholder of Amer Sports, which is seeking to sell half of its stake for approximately $1.3 billion, highlighting the company's growth and market position in the sports goods industry [3][12]. Group 1: Company Background - Amer Sports, known as the "Rolls-Royce of sports goods," owns high-end brands such as Arc'teryx, Salomon, Wilson, and Atomic, and has gained popularity in China alongside Lululemon as a new social currency [3]. - The company was originally founded in 1950 as a tobacco company and transitioned to the sports goods industry after acquiring a hockey equipment brand in 1974 [4][5]. - Amer Sports has expanded its brand portfolio through numerous acquisitions, including Wilson and Atomic, and fully shifted its focus to sports goods by divesting its tobacco business in 2004 [5][6]. Group 2: Financial Performance - In 2024, Amer Sports reported total revenue of $5.183 billion, with Arc'teryx alone generating over $2 billion, making it a key asset for the company [7]. - Following a major acquisition in 2018, Amer Sports underwent significant restructuring, focusing on core brands and achieving a compound annual growth rate of 20.4% from 2020 to 2022 [7][10]. - The company went public in 2024 with an initial share price of $13, reaching a market capitalization of $6.492 billion, and has since seen its stock price increase significantly [7][10]. Group 3: Shareholder Actions - FountainVest's decision to sell half of its stake comes after a period of substantial growth for Amer Sports, with the firm realizing a return on investment that exceeds its initial purchase price [12][13]. - The sale allows FountainVest to recover its investment cost while also providing liquidity for future investments in the consumer sector, as the market for consumer goods has seen renewed interest [15][17]. - Following the sale, FountainVest retains a 6.2% stake in Amer Sports, valued at approximately $1.267 billion [13].