MGM completed the acquisition of Rekord.

MGM, a provider of mountain and outdoor sports footwear, completed the acquisition of Rekord, a European manufacturer of technical, sports and outdoor shoes. Financial terms were not disclosed. Rekord currently employs approximately 700 people and has three production plants located in Alba Iulia, Romania. The new group, which is the result of the integration of MGM and Rekord - in which the Foglio/Congiu family will hold a majority stake - aims to become the leading European production pole in the technical outdoor footwear market.