Fri, Jan. 23, 6:18 AM
- Adidas (OTCQX:ADDYY) has sold its Rockport shoe business for $280M to a new entity formed by Berkshire Partners and New Balance, as the German company narrows its focus on sporting goods.
- CEO Herbert Hainer is under pressure for a turnaround after scrapping sales and profit targets for 2015 last year because of slumping demand for golf supplies in North America and turmoil in Russia.
Oct. 20, 2014, 2:02 AM
- A group of investors from Hong Kong and Abu Dhabi is launching a €$1.7B ($2.2B) bid to buy Reebok from Adidas (OTCQX:ADDYY) following years of disappointing results and fading market share.
- Hong-Kong based private equity fund Jynwel Capital and funds affiliated with the government of Abu Dhabi plan to send a letter to Adidas proposing the deal.
- Adidas bought Reebok in 2006 for approximately €3B ($3.8B).
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