Adidas Sells Reebok to Authentic Brands
Adidas has announced plans to sell Reebok to Authentic Brands Group. Authentic Brands Group will pay around $2.5 billion — the majority in cash — for the brand, according to a press release. The German sportswear company first revealed its intentions to divest from Reebok, which it has owned since 2006, in February, following an internal business review and the brand's underperformance. Footwear News reported that Authentic Brands Group was shortlisted as […]
