Adidas Buys Reebok at Buying

Adidas Buys Reebok. Its deal with abg is reportedly worth $2.5 billion. Market and the potential to better challenge leader nike inc.

“adidas wants to sell reebok with everything and wipe their hands clean,” a source close to the situation said. Adidas has agreed to sell reebok for roughly $2.5 billion, a sum less than what it originally paid. At the time, the acquisition included the rockport, ccm hockey and greg norman brands, which adidas later divested for a total consideration of € 0.4 billion.

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The companies together would have about $12.3 billion in annual sales compared with nike’s $13.7 billion, per adidas and reebok. Adidas announced on thursday that it has entered into an agreement to sell the brand to authentic brands. It bought the us label 15 years ago in a. In december, adidas revealed it was looking to offload the struggling business.