Authentic Brands Group (ABG), a worldwide brand owner, marketing, and entertainment firm, said today that it had reached a deal with Adidas to buy Reebok, the famous athletic and footwear brand.
Adidas stated today that it had reached a deal to sell Reebok to Authentic Brands Group (ABG) for a total consideration of up to € 2.1 billion, with the bulk of the money paid in cash at closure and the rest in deferred and contingent consideration.
“We’ve had our sights set on Reebok for many years, and we’re pleased to welcome this famous brand into the fold finally,” Jamie Salter, Founder, Chairman, and CEO of ABG, stated. Reebok not only has a particular position in the hearts and thoughts of customers all around the world, but it also has an extensive global distribution network. adidas has been a fantastic custodian of the Reebok brand, and we look forward to working with the Reebok team to keep up the excellent work and strengthen the brand’s position as one of the world’s most recognizable consumers brands.”
ABG wants to use its core approach with Reebok, combining solid brands with best-in-class licensees and a network of partners to maximize market value. The brand’s world headquarters will remain in Boston, and ABG will work closely with Adidas, Reebok’s President Matt O’Toole, and the entire Reebok team to transition the brand to ABG’s platform. Reebok’s operations will continue in the U.S. and Canada, Latin America, Asia Pacific, Europe, and Russia.
The transaction, which is expected to close in the first quarter of 2022, is subject to customary closing conditions, including regulatory approval.
Ref: LicensingGlobal, adidas group.
