MVC Group to acquire a 70% stake in Zoot.

MVC Group, an outdoor and cycling clothing producer, agreed to acquire a 70% stake in Zoot, a clothing and accessories company. Financial terms were not disclosed. “The acquisition of Zoot aligns with our strategy of growth and expansion and will strengthen MVC’s position in the US market, where we’ve been operating through a subsidiary for more than 20 years, in addition to allowing us to expand in the triathlon segment — a sport that is demonstrating significant growth and has an appealing base of high-spending consumers. Zoot’s direct presence in the Philippines will also allow us to benefit from vertically integrated production and further enhance the organizational structure that today manages the Castelli, Sportful and Karpos brands,” Alessio Cremonese, MVC Group CEO.