September 25, 2021

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Adidas sold Reebok for billions of dollars to ABG

Adidas sold Reebok for billions of dollars to ABG

Adidas found a buyer for the Reebok brand a few months later. Reuters reported that ABG Group will acquire the project for $2.5 billion. That’s less than what Adidas paid Reebok for several years ago.

Adidas sells Reebok for $2.5 billion.

as he knows ReutersAnd Adidas sells Reebok to US-based ABG Group – The Originals Brands Group. She owns more than 30 luxury brands of clothing and cosmetics, including Airwalk, Volcom, Sports Illustrated or Forever 21. The decision was made after six months of searching for a buyer – Adidas announced its intention to phase out the well-known brand in February 2021.

ABG will pay $2.5 billion to Reebok. (about 2.1 billion euros). As Reuters confirms, Adidas is selling the famous brand because it did not meet the expectations placed in it. What is more, The amount of the deal is even lower when Adidas acquired Reebok – the German company paid $3.8 billion in 2006. , which is 1.3 billion dollars. Over the sale amount now.