The deal will be finalized in early 2022 and cost Authentic Brands $2.5 billion.
CEO of Adidas AG, Kasper Rorsted said:
“Reebok has been a valued part of Adidas, and we are grateful for the contributions the brand and the team behind it have made to our company. With this change in ownership, we believe the Reebok brand will be well-positioned for long-term success,”
ABG said in a statement:
“use its core playbook, connecting strong brands with best-in-class licensees and a network of partners that seek to optimize value in the marketplace.”