Korean outdoor specialist owns 50.01% of Scott

The ownership structure of the bike manufacturer from Givisiez is changing: The South Korean company Youngone had already acquired a first tranche of Scott's shares in 2013, and now the outdoor specialist is becoming Scott's majority shareholder with 50.01 percent.

The first coup took place in June 2013, when the Korean company Youngone Corp. acquired 20.01% of the shares in Scott Sports from Givisiez. As The Korea Economy Daily reports, Youngone Corp. acquired a further 30 percent of Scott's shares for around 100 million dollars in January 2015, making it the majority shareholder with 50.1 percent.

In 2011, Youngone founded a company with the Swiss bike and winter sports equipment manufacturer to sell Scott products in the Korean, Japanese and Chinese markets.

Youngone Corp. is Korea's largest "Original Equipment Manufacturer" and deals with more than 30 international brands such as The North Face, Timberland, Nike and Polo Ralph Lauren.

www.youngone.co.kr
www.scott-sports.com