Management team in Fila buyout

Sports and lifestyle brand Fila has agreed a management buy-out of its Europe, Middle East, Africa and Indian sub continent division for an undisclosed sum.

Chief executive Stefano di Martino has led the MBO and will continue in the same role. Former Adidas global marketing director Jan Valdmaa is joining the company as chairman and former Umbro chief financial officer Geoff Haslehurst joins as finance director.

The new team says it intends to improve product development and expand into new markets such as Russia and India. It also says it will develop new ski and tennis-related products, in line with Fila Global strategy, and will look to form long-term relationships with relevant partners.

It has entered into an agreement with The Wimbledon Championships as its official footwear supplier until 2012 and clothing sponsor of The Artois Championships.

The deal, for a perpetual license for the brand across EMEA, was backed by Barclays Ventures.

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