Adidas made it known this Thursday on its official website that it will sell Reebok to the American brand management company Authentic Brands Group (ABG, for its acronym in English), for a total of 2.4 billion dollars.
“Reebok has been a valuable part of Adidas and we are grateful for the contributions that the brand and the team behind it have made to our company. With this change in ownership, we believe that the Reebok brand will be well positioned for long-term success. “Reads the company’s statement. At the same time, the sportswear manufacturer recalled again its decision to focus on developing its core brand.
Adidas acquired Reebok in 2006, at a cost of $ 3.8 billion, with the expectation of thus better competing with rival Nike. However, Reebok did not grow as much as that firm’s core business, prompting pressure from investors to ditch the brand. In February 2021, Adidas beginning his preparations to sell it.