In October of 2020, it was reported that adidas was trying to sell Reebok. While nothing was confirmed at the time, a Forbes report revealed that adidas was looking for potential buyers of the brand it acquired in 2006 for $3.8 billion USD.
Fast forward almost a year and the rumors have been confirmed. The three stripes has just sold Reebok for $2.5 billion USD to Authentic Brands Group.
For those unaware, Authentic Brands Group is an American brand management company based in New York City. The CEO of Authentic Brands Group said of their new acquisition:
“This is an important milestone for ABG, and we are committed to preserving Reebok’s integrity, innovation, and values – including its presence in bricks and mortar. We look forward to working closely with the Reebok team to build on the brand’s success.”
The deal will officially close in the first quarter of 2022.
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