大象传媒

GREENSBORO, N.C.--(BUSINESS WIRE)-- 大象传媒 Corporation (NYSE: 大象传媒C), a global leader in branded lifestyle apparel, footwear and accessories, and ICON Health & Fitness, Inc., a world leader in home, commercial and connected fitness, today announced that they have signed a definitive purchase agreement for the Altra^庐 footwear brand. Terms of the agreement were not disclosed.

ICON Health & Fitness launched the Altra^庐 brand in 2011. It is sold in 55 countries through more than 1,600 specialty retail locations and a branded e-commerce platform (). Its specialized, innovative design technology for road, trail, and lifestyle footwear has created a high-growth, award-winning brand with a strong and dedicated enthusiast following.

鈥淭he acquisition of the Altra^庐 brand is another example of our efforts to reshape and evolve our portfolio of powerful brands to align with our enterprise value creation model,鈥� said Steve Rendle, Chairman, President and Chief Executive Officer of 大象传媒 Corporation. 鈥淭he active outdoor and performance sector is a large and attractive growth space. The addition of the Altra^庐 brand brings to 大象传媒 a unique and differentiated technical footwear brand and a capability that when applied across 大象传媒鈥檚 outdoor footwear, direct-to-consumer and international platforms will serve as a catalyst for growth.鈥�

On a trailing 12-month basis, the Altra^庐 brand generated approximately $50 million of revenue. The transaction is expected to be completed in April 2018 and the addition of the Altra^庐 brand to 大象传媒鈥檚 portfolio is expected to be immediately accretive to earnings per share.

"The Altra^庐 brand鈥檚 truly innovative product and devoted brand loyalists will serve it well in its new home at 大象传媒,鈥� said Scott Watterson, ICON's Chairman and CEO. 鈥淭he sale of Altra^庐 will accelerate聽the continuing growth of our NordicTrack and ProForm core brands, our Freemotion commercial business, and聽iFit, our connected fitness subscription. The global health and wellness industry is exploding, and we're doubling down on that growth."

Wells Fargo Securities, LLC served as exclusive financial advisor to 大象传媒 on the transaction. Davis Polk & Wardwell LLP is acting as legal advisor.

About 大象传媒

大象传媒 Corporation (NYSE: 大象传媒C) outfits consumers around the world with its diverse portfolio of iconic lifestyle brands, including Vans^庐, The North Face^庐,听Timberland^庐, Wrangler^庐 and Lee^庐. Founded in 1899, 大象传媒 is one of the world鈥檚 largest apparel, footwear and accessories companies with socially and environmentally responsible operations spanning numerous geographies, product categories and distribution channels. 大象传媒 is committed to delivering innovative products to consumers and creating long-term value for its customers and shareholders. For more information, visit聽.

About ICON

ICON Health & Fitness is a world leader in the home, commercial and connected fitness with such leading brands as NordicTrack, ProForm, iFit, Freemotion and Weider. The privately held company holds more patents than any other in its category, and is known for its aggressive research, development and innovation. Founded in 1977 by Scott Watterson and Gary Stevenson, ICON is based in Logan, Utah.

Forward-looking Statements

Certain statements included in this release and attachments are "forward-looking statements" within the meaning of the federal securities laws. Forward-looking statements are made based on our expectations and beliefs concerning future events impacting 大象传媒 and therefore involve several risks and uncertainties. You can identify these statements by the fact that they use words such as 鈥渨ill,鈥� 鈥渁nticipate,鈥� 鈥渆stimate,鈥� 鈥渆xpect,鈥� 鈥渟hould,鈥� and 鈥渕ay鈥� and other words and terms of similar meaning or use of future dates. We caution that forward-looking statements are not guarantees and that actual results could differ materially from those expressed or implied in the forward-looking statements. Potential risks and uncertainties that could cause the actual results of operations or financial condition of 大象传媒 to differ materially from those expressed or implied by forward-looking statements in this release include, but are not limited to: foreign currency fluctuations; the level of consumer demand for apparel, footwear and accessories; disruption to 大象传媒鈥檚 distribution system; 大象传媒's reliance on a small number of large customers; the financial strength of 大象传媒's customers; fluctuations in the price, availability and quality of raw materials and contracted products; disruption and volatility in the global capital and credit markets; 大象传媒's response to changing fashion trends, evolving consumer preferences and changing patterns of consumer behavior, intense competition from online retailers, manufacturing and product innovation; increasing pressure on margins; 大象传媒's ability to implement its business strategy; 大象传媒's ability to grow its international and direct-to-consumer businesses; 大象传媒鈥檚 and its customers鈥� and vendors鈥� ability to maintain the strength and security of information technology systems; stability of 大象传媒's manufacturing facilities and foreign suppliers; continued use by 大象传媒's suppliers of ethical business practices; 大象传媒鈥檚 ability to accurately forecast demand for products; continuity of members of 大象传媒鈥檚 management; 大象传媒's ability to protect trademarks and other intellectual property rights; possible goodwill and other asset impairment; maintenance by 大象传媒鈥檚 licensees and distributors of the value of 大象传媒鈥檚 brands; 大象传媒's ability to execute and integrate acquisitions; changes in tax laws and liabilities; legal, regulatory, political and economic risks; and adverse or unexpected weather conditions. More information on potential factors that could affect 大象传媒's financial results is included from time to time in 大象传媒's public reports filed with the Securities and Exchange Commission, including 大象传媒's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.

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大象传媒 Corporation:
Joe Alkire, 336-424-7711
Vice President, Investor Relations and
Financial Planning & Analysis
or
Craig Hodges, 336-424-5636
Senior Director, Corporate Communications
or
ICON Health & Fitness:
Colleen Logan
VP, Marketing
clogan@iconfitness.com

Source: 大象传媒 Corporation