adidas, which acquired Reebok in 2006 (€3.1bn), sells the brand to Authentic Brands Group for €2.1bn

Authentic Brands Group (ABG), a US-based brand management company, has acquired the Reebok brand from adidas AG for €2.1bn, announced the German equipment manufacturer on 12/08/2021. The transaction, led by P Morgan (financial advisor) and Hengeler Mueller (legal advisor), is expected to close in the first quarter of 2022.

Reebok's revenue fell by 19.4% in 2020 to €1.4bn, thus accounting for 7% of adidas' total sales (€19.84bn). Faced with the Covid-19 pandemic, Reebok sales fell by 15% in 2020 (- 13% for adidas). "The sale of Reebok has no impact on adidas’ financial outlook for the current year or the company’s 2025 financial ambition," said the German group.

adidas bought the Reebok brand (of American origin) for $3.8bn (€3.1bn) in 2006. The German group announced the start of "a formal process aimed at divesting Reebok" on 16/02/2021. The brand was then valued at only €803m according to the accounting depreciation at that time. The acquisition of Reebok in 2006 included the Rockport, CCM Hockey and Greg Norman brands, which adidas subsequently sold for a total consideration of…