Aqualung Group announced this week it has officially entered into “exclusive discussions” with the HEAD Group regarding the latter’s potential purchase of the company.
According to an Aqualung statement:
“The contemplated transaction, which is subject to regulatory approvals and due legal process, would significantly strengthen HEAD’s presence in the Water Sports segment, which has great potential.”
Buying Aqualung would “significantly expand” HEAD’s brand portfolio beyond its established watersports brands that include MARES, SSI, rEvo, liveaboard.com and Zoggs.
Founded in 1943 following the invention of the “aqua-lung” by Jacques-Yves Cousteau and engineer Émile Gagnan, Aqualung Group’s products are distributed in over 90 countries and are trusted by both recreational divers and military and professional operators for critical missions.
The statement continues:
“The contemplated acquisition aims to create a world-class leader in the global Water Sports market, uniting two iconic players driven by safety, technical excellence, innovation, comfort and design, performance, and passion for sport and aquatic exploration.”
HEAD added it intends to maintain and develop the Aqualung Group and to “reinforce its strategic and growing military and professional division.”
HEAD said it also plans to build on Aqualung Group’s production capabilities to support the global production and distribution of “premium” products.
“The combined expertise of the two companies would generate strong synergies, accelerate market leadership, and open new opportunities to broaden access to water sports
worldwide.”
HEAD acquired MARES in 1971 and evolved it into a market leading brand in the scuba diving sector with innovative products. SSI was acquired by HEAD in 2014, becoming the No. 1 diving certifier in Europe and has more than doubled in revenues since its acquisition.
ZOGGS, a swim brand born in Australia was acquired by HEAD in 2020 and has since seen significant international growth, taking advantage of HEAD’s global network.
Aqualung said Victor Vadaneaux has been appointed as company CEO to ensure a smooth transition and integration. He has been a member of the company’s Supervisory Board as well as serving as an advisor since last year.
