JUST IN: Adidas ends its Reebok run with €2.1-B sale to US conglomerate

It was a good 15-year era

On August 12, 2021, Adidas announced an agreement to sell Reebok to Authentic Brands Group (ABG) after 15 years of acquisition. In a report made by Adidas Group, for a total consideration of €2.1 billion, the brand is expected to be out of Adidas’ umbrella in the first quarter of 2022.

“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.”

Reebok will be joining Brooks Brothers, Izod, Forever21, Juicy Couture, Nautica, and Aeropostale and more under its new home.