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Home / Business News / Adidas prepares sale of the Reebok brand: Report

Adidas prepares sale of the Reebok brand: Report

The German sports apparel company has an internal team focused on the deal and has signed confidentiality agreements on the matter, an article said.

business Updated: Oct 22, 2020, 16:23 IST
Bloomberg | Posted by Niyat Singh
Bloomberg | Posted by Niyat Singh
The German company acquired Reebok for $3.8 billion in 2006.
The German company acquired Reebok for $3.8 billion in 2006.(File photo for representation)

Adidas AG is looking to sell its Reebok brand before March 2021, Manager Magazin reported, without saying where it got the information.

The German sports apparel company has an internal team focused on the deal and has signed confidentiality agreements on the matter, the article said.

A spokeswoman for Adidas, reached by Bloomberg News, said the company doesn’t comment on market rumors.

Interested parties include VF Corp., which owns the Timberland and North Face brands, as well as China’s Anta International Group Holdings, Manager Magazin said.

While Adidas Chief Executive Officer Kasper Rorsted had hoped for about 2 billion euros ($2.4 billion) from selling Reebok before the pandemic, he would now be content with less than that amount, the magazine said.

The German company acquired Reebok for $3.8 billion in 2006.

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