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Adidas Sells Reebok for $2.5 billion to Authentic Brands Group, IPO in United States
13th August 2021 | Hong Kong
Adidas is selling Reebok for $2.5 billion (EUR 2.1 billion) to global brand owner, marketing and entertainment company Authentic Brands Group (ABG). In 2006, Adidas had bought Reebok for $3.8 billion to compete with arch-rival Nike. The acquisition of Reebok in 2006 included Rockport, CCM Hockey and Greg Norman brands, which were later sold for around $470 million. Authentic Brands Group (ABG) has more than 30 brands and partners, including Sports Illustrated magazine, Greg Norman, Julius Erving, Muhammad Ali, Shaquille O’Neal and sports and fashion apparels Prince, Aéropostale, Forever21, Jones New York, Nautica, Nine West and many more. Authentic Brands Group (ABG) has also filed for an IPO in United States. The transaction is expected to close in 2022 Q1. (IPO ~ Inititial Public Offering)
“ Adidas is selling Reebok for $2.5 billion to Authentic Brands Group “
- Article continues below -
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Authentic Brands Group Buys Reebok for $2.5 Billion
Authentic Brands Group (ABG) has more than 30 brands and partners, including Sports Illustrated magazine, Greg Norman, Julius Erving, Muhammad Ali, Shaquille O’Neal and sports and fashion apparels Prince, Aéropostale, Forever21, Jones New York, Nautica, Nine West and many more.
Shaquille O’Neal:
“As a longtime partner of Reebok and an owner of ABG, it’s a dream come true to welcome this legendary brand to the family.”
Jamie Salter, Founder, Chairman and CEO of ABG:
“We’ve had our sights set on Reebok for many years, and we’re excited to finally bring this iconic brand into the fold. Reebok not only holds a special place in the minds and hearts of consumers around the world, but the brand also has expansive global distribution. adidas has been an incredible steward of the Reebok brand, and we look forward to working with the Reebok team to continue their great work and further its position as one of the world’s leading consumer brands.”
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