Reebok Sold By Adidas

After months of announcements and rumors, Adidas today confirmed that they sold Reebok to Authentic Brands Group (ABG).

Adidas Sells Reebok to Authentic Brands Group (Owner Of 50+ Consumer Brands)

ABG owns more than 50 consumer brands, including rights of Muhammad Ali, Elvis Presley, Shaquille O'Neal, and Marilyn Monroe. AGB's 30 brands are sold in around 6,000 stores. They are active in the media, entertainment, fashion, home, active lifestyle and outdoor sectors. They also own the Sports Illustrated magazine.

The deal is worth up to $2.46 billion (2.1 billion Euros), paid mostly in cash. Adidas bought Reebok for $3.8 billion in 2006 to help in its market dispute against Nike.

“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. As for adidas, we will continue to focus our efforts on executing our “Own the Game” strategy that will enable us to grow in an attractive industry, gain market share, and create sustainable value for all of our stakeholders,” said Kasper Rorsted, CEO of adidas AG.

Jamie Salter, Founder, Chairman and CEO of ABG commented, “It’s an honor to be entrusted with carrying Reebok’s legacy forward. This is an important milestone for ABG, and we are committed to preserving Reebok’s integrity, innovation, and values - including its presence in bricks and mortar. We look forward to working closely with the Reebok team to build on the brand’s success.”

With Authentic Brands Group not playing any major role in the sponsorship of soccer so far, we think it is very unlikely that we will see a comeback of Reebok in football. Adidas positioned Reebok as a fitness brand, and we think ABG will continue to do so.

Do you think we will see the Reebok brand in football ever again? Comment below.