Italy-based MVC Group has acquired a 70 per cent stake in triathlon gear brand Zoot for an undisclosed amount.

Founded in 1946, MVC Group produces outdoor and cycling clothing under the Castelli, Karpos and Sportful brands. The group is present in 75 countries and reported consolidated turnover of $139.5 million in FY22.

Alessio Cremonese, CEO of MVC Group, said the acquisition aligns with the group’s growth strategy, helps strengthen its position in the US market, and allows it to expand in the triathlon segment.

“In addition to expanding our presence in the triathlon market, the acquisition of Zoot gives us the opportunity to enhance our positioning in the strategic direct-to-consumer channel.”

Direct-to-consumer channel is an important driver of growth for MVC Group, currently accounting for about 14 per cent of turnover. The group aims to raise the figure to 20 per cent by 2025.

Following the acquisition, Doug Vargo, CFO of Zoot, will be appointed as CEO of Zoot and MVC US. Shawn O’Shea, president of Zoot, will become global head of the triathlon division and manage both the Zoot brand and the triathlon component of the Castelli brand.

“We are excited to join MVC Group, and we are confident that the expertise of its management team and the synergies that can be developed will provide new growth opportunities for Zoot,” said O’Shea.

“MVC’s e-commerce platform will allow us to expand our reach into new and interesting markets such as Europe, Japan and China.”