The company began life as a tobacco manufacturer and distributor, Amer-Tupakka, in 1950 and acquired the right to produce and sell Philip Morris cigarettes in Finland in 1961. In the 1960s, the significant profits from the company's tobacco interests were invested in three commercial ships. A publishing and printing division was added in 1970 with the purchase of the Finnish company Weilin+Göös, and the company listed on the Helsinki Stock Exchange in 1977, four years after changing its name to Amer-Yhtymä. In the 1980s, Amer moved into the vehicle import industry by acquiring the firm Korpivaara, and with it the exclusive rights to import and distribute such brands as Citroën and Toyota. The decade also saw the company expand into the textiles and plastics markets.
Focus on sport
In 1986, Amer established a sports division after acquiring a majority stake in the golf equipment maker MacGregor Golf from Jack Nicklaus. Despite this, the company was involved in the sports equipment market as early as 1974, when it bought the hockey gear maker then known as Koho-Tuote. These interests were sold in 1986. Three years later, Amer acquired the Chicago-based Wilson Sporting Goods Company, a leading producer of golf clubs, racquets and other sporting equipment, marking a major change in strategy for the company. Further acquisitions followed in the shape of the Austrian ski manufacturer Atomic in 1994 and the Finnish sports instrument maker Suunto in 1999. The American baseball and softball bat firm Demarini was purchased a year later, falling under the Wilson division. During this time, many of the business areas no longer deemed to be core were divested, although the company retained its tobacco business until 2004 when it was sold back to Philip Morris. In 2005, Amer acquired the outdoor sports company Salomon from Adidas for €485 million. In the same year, the company officially changed its name to Amer Sports Corporation. In 2019, Amer completed its divestment of Mavic.
Operations
Amer divides its operations into three business units: winter and outdoor sports, ball sports and fitness. The winter and outdoor sports business segment is the largest, contributing 60% of Amer Sports' net sales in 2013. The winter and outdoor sports group includes Salomon, Atomic, Suunto, Peak Performance, Arc'teryx, Armada, Enve, and Sports Tracker. The company's global headquarters are located in Helsinki, Finland, with manufacturing and sales locations worldwide. In 2007, Amer Sports' North American headquarters were moved from Portland, Oregon to the historic American Can Company of Utah Building Complex in Ogden, Utah. On December 7, 2018, Amer Sports announced a buyout offer by a consortium led by Anta Sports of China. The company's shares were valued at €4.6 billion, 40% over their average market value. Under the terms of the offer, Amer Sports will remain a separate business entity with no immediate changes in management or workforce, while Anta Sports shall provide R&D and production resources required for expansion on the Chinese market.
