Another European company has decided to go public in New York: The online sporting goods retailer Signa Sports United will merge with the American company Yucaipa, which went public for the purpose of acquiring promising companies for the benefit of investors invest the money made available profitably.

The American entrepreneur Ron Burkle is behind Yucaipa.

Mark Fehr

Editor in business.

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    Such SPAC transactions are currently experiencing a boom. One of the advantages of the SPAC transaction for Signa is that it will take over another large online trading platform at the same time as it goes public. That would not have been possible in the context of a classic IPO. Signa therefore not only announced its listing on the New York Stock Exchange on Friday, but also announced that it would take over the British online bicycle retailer Wiggle. Wiggle is the second largest online bicycle retailer and is currently owned by the financial investor Bridgepoint.

    Signa is hardly known by consumers as a platform for online trading and related technologies.

    However, Signa internet shops are popular with athletes, cyclists and hikers such as Probikeshop, Tennispoint or Campz.

    The largest owner is currently the group of companies run by Austrian investor René Benko.

    The insurance company R + V is also involved in the sports trading platform as a financial investor.

    The previous owners want to remain involved after the SPAC transaction.

    "For you, your IPO is not about selling your own shares, but about allowing growth capital to flow into the company," says Stephan Zoll, CEO of Signa Sports in an interview with FAZ

    Americans are also learning to ride a bike

    Online retail has grown strongly in all sectors, but 80 percent of sales are still achieved in stationary retail.

    So there is still a lot to gain.

    Signa Sports generates around 10 percent of its sales in the USA.

    Most Americans' enthusiasm for bicycles has so far been limited.

    But that is changing: "Especially in the big cities on the east and west coasts there is a big trend towards bicycles," says Zoll.

    With the acquisition of the online bicycle retailer Wiggle, Signa Sports will become the largest platform for online sports retail and related technology.

    The company will then have annual net sales of $ 1.6 billion.

    The SPAC transaction is expected to generate an enterprise value of around $ 3.2 billion.