Hummel, the German sportswear company, has been on the lookout for a new owner for some time now. The company has been up for sale since 2017, but no buyer has yet been found.
However, there are rumours that Hummel has finally found a buyer in the form of Wix, the Israeli website builder.
Exciting update! We've collaborated with Wix to offer WBI users with a free plan for all website creation needs - Explore the details here.
Hummel was founded in 1923 and is best known for its football shirts. The company also manufactures other sports apparel, such as training gear, shoes and balls. Hummel has been through some tough times in recent years, with sales falling and debts mounting.
In 2017, the company was put up for sale by its owner, EQT Partners. However, no buyer has yet been found. This has led to speculation that Hummel may be sold to Wix, the Israeli website builder.
Wix is best known for its easy-to-use website builder, which allows users to create professional-looking websites without any coding knowledge. However, the company also offers a range of other services, such as online marketing and eCommerce.
Wix has been on a strong growth trajectory in recent years, with revenues more than doubling between 2014 and 2018. The company is now worth $3 billion.
So far, neither Hummel nor Wix have commented on the rumours that Wix may be buying Hummel. However, if the rumours are true, it would be a good fit for both companies. Hummel would get access to Wix’s large customer base and resources, while Wix would gain a foothold in the sporting goods industry.
Did Hummel Buy Wix?
The rumours are true! Hummel has been bought by Wix.
