The North Face and Vans parent has found a buyer for the direct-to-consumer streetwear brand it acquired during the pandemic, raising a much-needed $1.5 billion in cash which will go towards paying down its $4.7 billion debt load.

The Varsity Spirit and BSN Sports parent is being acquired by KKR from Bain Capital, according to S&P Global, confirming an earlier report by Reuters.

Net income improved by 4% to SEK 559 million ($52.3 mm) in the second quarter from SEK 539 million last year, as revenues increased 2% to SEK 3,099 million ($290.2 mm) from SEK 3,029 million.

The Eager Beavertons are embroiled in another proposed class action suit—along with president and CEO, John Donahoe, and CFO, Matthew Friend—filed in OR district court by Yagnesh Mehta.

SPWH is suing Legacy Sports in NV district court for failing to defend and indemnify the retailer as required by the indemnity clause in their supplier contract.

The Lewis family will assume full ownership of LTP Sports Group, the parent company of Norco Bicycles and Canada’s largest bicycle wholesale distributor.