Mammut sells Toko to Swix Sport
The Swiss Mammut Sports Group AG
will sell the Toko brand, including all of its activities and products, to a
new subsidiary of the Norwegian company Swix Sport AS, effective September 1,
2010.
By taking this step, Mammut Sports
Group AG is underlining its intention of focusing on the outdoor sports market
and its main brand MAMMUT. "MAMMUT's rapid growth over recent years and the
challenges of its future worldwide expansion require all our efforts and these
are the driving factors behind this transaction," states Rolf G. Schmid, CEO of
Mammut Sports Group.
Toko, which occupies a leading
position in central Europe, has a long tradition in ski waxing and today offers
a wide range of Swiss-quality ski wax, tools and care products for top
performance. The brand's logo, with its yellow on black colours, is well known
in all international ski markets. Toko represents around 5% of the Mammut
Sports Group's annual turnover.
After the purchase, Toko will
maintain its Swiss identity and Swix Sport AS will pursue a two brand strategy,
with separate product portfolios and distribution channels. Both brands, Toko
and Swix, will benefit from collective investments in product development,
production and logistics. "Toko's leading position in central Europe and strong
presence in alpine markets, together with our nordic focus is a perfect match
in order to offer new and superior products in the future," states Ulf
Bjerknes, CEO of Swix Sport AS.
Swix, the new brand owner, will take
over the entire Toko team and operate the Toko business out of Altstätten
(Switzerland), Toko's former home. The current Toko brand manager, Thorsten
Walter, will lead this new company called Toko-Swix Sport AG. "We are very pleased
that in Swix Sport AS Toko has found a new owner that knows the business by
heart and is able to take advantage of everything we have built up over the
years," states Rolf G. Schmid.
It is important to
recognize that Toko will retain its independence and identity as a Swiss
company. Ian Harvey will continue to run the Toko brand for the US market
and all Toko sales reps will be retained as per Ian's judgment. Toko
marketing activities will continue to be independent from Swix.
For questions or further
information, please contact: Steve Poulin, President Swix Sport USA, steve@swixsport.com
Ian Harvey, Toko USA Brand Manager, Ian@TokoUS.com
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