Business Maverick: Adidas Sells Reebok to Authentic Brands in $2.5 Billion Deal

The majority of the price will be paid in cash at closing, with the rest coming as deferred and contingent consideration, the companies said Thursday in a statement. The deal is expected to close in the first quarter of 2022.Authentic Brands Chief Executive Officer Jamie Salter said in the statement that the deal is “an important milestone” in the company’s growth. “We are committed to preserving Reebok’s integrity, innovation and values — including its presence in bricks and mortar.

Adidas shares rose as much as 2.5% in Frankfurt trading after the announcement. They closed up 1.6% to 312 euros. Already this year, Authentic Brands has bought Eddie Bauer with Sparc Group, its joint venture with Simon Property Group. Authentic Brands, whose portfolio companies include Forever 21 and Sports Illustrated, also acquired a collection of brands from PVH Corp. that include Izod and Van Heusen.

Reebok has long fascinated industry players, both as a cautionary tale and for the tantalizing potential of recapturing some of its old success. Propelled by the aerobics boom, it became a giant seemingly overnight in the 1980s and even exceeded Nike for several years in terms of U.S. sneaker sales. That momentum quickly sputtered, however, and even Adidas never managed to reignite the brand.Adidas acquired Reebok for $3.8 billion in 2006.

I still can't believe that real account manager exist I am so happy trading with shantelll_142 i never took her serious because I taught she was a scam like others ,until my first withdrawal of R60,000 within just one week of trading! I am so grateful 🤗🤗

I wish I contacted earlier Linda_Stouffer this year I'm sharing this to encourage every beginner and Bitcoin lover to get in touch with her she is very legit and God fearing person Linda_Stouffer

Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen

Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.

Business Maverick: The New Rich Are Overtaking Old Money in Korea’s Billionaire RankingsA new elite of uber-rich entrepreneurs is shooting up the wealth rankings in South Korea, overtaking the families behind the country’s decades-old sprawling conglomerates known as “chaebol.” I still can't believe that real account manager exist I am so happy trading with shantelll_142 i never took her serious because I taught she was a scam like others ,until my first withdrawal of R60,000 within just one week of trading! I am so grateful 🤗🤗
Herkunft: dailymaverick - 🏆 3. / 84 Weiterlesen »

Business Maverick: Boeing Starliner Faces Longer Launch Delay Due to Valve SnagBoeing Co. faces a potentially lengthy delay of months for the second test flight of its Starliner capsule as the company tries to sort out a glitchy valve problem and confronts a busy schedule in coming months at the International Space Station. I still can't believe that real account manager exist I am so happy trading with shantelll_142 i never took her serious because I taught she was a scam like others ,until my first withdrawal of R60,000 within just one week of trading! I am so grateful 🤗🤗
Herkunft: dailymaverick - 🏆 3. / 84 Weiterlesen »