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The Vannes Commercial Court has placed Tahe Outdoors France in receivership on February 26, 2026. The former Bic Sport site, which employs 88 people and produces 55,000 boats a year, is looking for a buyer. For the industry, this is a historic player whose survival is at stake.
Dependence on seasonality and cash flow
The first point concerns the Group's financial structure. For the past two years, Luxembourg shareholder KJK Sports has been reinjecting cash every winter to cover cash requirements, pending early-season sales and the repayment of debts incurred in the post-Covid period.
In early February 2026, a decision by the shareholder interrupted this support. As a result, the company ceased payments and was placed under court protection.
The business model of the board and light craft industry is based on peak orders concentrated over a few months. Without a solid line of credit or a long-term shareholder commitment, the slightest banking tension weakens the entire chain.
A rare industrial tool in the nautical plastics industry
The Vannes site covers 30,000 m², including 10,000 m² dedicated to production and 4,000 m² to storage. There are two sheet extrusion lines and specific thermoforming equipment. Every year, some 55,000 units of surfboards, stand-up paddles, kayaks, windsurfers and dinghies leave the workshops.
Since 1979, over 2 million products have been manufactured on this site and exported to 90 countries. For the industry, the benefits are twofold.
On the one hand, the facility enables integrated production in France, with expertise in polymer processing applied to the marine sector. On the other, the extrusion and thermoforming capacity opens the door to diversification into the energy, automotive, water treatment and circular economy sectors, already initiated in recent years.
Recognized brands and an international portfolio
Beyond the walls, value also lies in the brands. Tahe and SIC Maui have a well-established sales presence, particularly in export markets. In 2024, sales for Tahe Outdoors France reached 9.5 MÂeuros, and just over 16 MÂeuros including subsidiaries in the USA, Australia and the paddle and oar manufacturing company in Cognac.
A total of 88 employees are affected by the procedure, including 66 at the Vannes site. For Morbihan, this is a historic industrial player, which passed from Bic Sport to Tahe Outdoors after the 2019 sale.
Receivership provides a framework for organizing the sale and preserving the business. For potential buyers, the stakes are not limited to a product portfolio. It includes teams trained in extrusion and thermoforming processes, mass production management and export.
And in a sector where skilled workers in plastics and boatbuilding are in short supply, retaining these skills is an asset. It remains to be seen which investor profile will come to the fore: a watersports player wishing to internalize its production, a plastics group looking to diversify, or a regional consortium banking on its local roots.
The observation period opened by the court will determine whether the Vannes plant will continue to mold boards and kayaks under the Breton flag, or whether it will change course. For the industry, the outcome will be closely scrutinized.
