Adidas agrees to sell Reebok to Authentic Brands Group

Worldwide
Published:  13 August, 2021
Credit: Adidas

Adidas has announced that it has entered into a definitive agreement with Authentic Brands Group (ABG) to sell Rebook for a total consideration of up to €2.1 billion, with the majority to be paid in cash at closing of the transaction and the remainder comprised of deferred and contingent consideration.

The closing of the transaction is subject to customary closing conditions and is expected to occur in the first quarter of 2022. Adidas intends to share the majority of the cash proceeds to be received upon closing with its shareholders.

The sale of Reebok reportedly has no impact on Adidas’ financial outlook for the current year or the company’s 2025 financial ambition that was announced as part of its Own the Game strategy in March 2021.