GIVISIEZ, Switzerland (BRAIN) — Scott Sports S.A., has agreed to acquire the Dolomite footwear brand from Italy's Tecnica Group S.p.A, for an undisclosed amount.
Scott, based in Switzerland, announced Thursday that it had signed a preliminary agreement for the takeover of Tecnica's Dolomite division.
Dolomite was established as a mountaineering footwear brand in 1897. Tecnica Group bought it in 1998 and the brand now offers technical mountaineering, backpacking, hiking and trail running shoes. This year's revenues are forecast at 18 million euros ($20.5 million).
"The operation falls within Scott's strategy of developing long-established brands with a strong international reputation," the company said.
Scott was founded by Ed Scott in Sun Valley, Idaho, in 1958. Last year, Korea's Youngone Corp. increased its investment in the company to just over 50 percent. In recent years, Scott has acquired the Syncros bike component brand, the outdoor brands Outdoor Research and Powderhorn, and the bike brand Bergamont.
