Sources report that athletic-wear brand adidas is now bringing its new 5-year business strategy up for review, which includes a proposal to sell their subsidiary Reebok.
Reebok was first acquisitioned by adidas back in 2006 at a price of $3.8 billion USD. Kasper Rorsted, the CEO of adidas has been focused on fixing adidas’ slow sales performance since the acquisition. Rorsted closed underperforming retail spots and significantly cutting costs/expenses. Even though the adidas CEO has turned the company around towards greater profitability and growth over the past few years, he is hoping to sell Reebok for a little under half of what he bought it for at only $2.4 billion USD due to the pandemic economy caused by the Coronavirus.
Currently, companies that have shown interest include the private equity firms Triton and Permira, in addition to the American footwear and apparel company VF Corp. that only recently bought Supreme. So far no official offers have been provided as of yet. Meanwhile, Anta International Group Holdings have also shown interest from China.
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