Sports Direct completed the sale of its Dunlop business to Japan-based Sumitomo Rubber Industries for $137.5 million.
As part of the deal, Sumitomo will grant Sports Direct a royalty free license to continue to use the Dunlop brand for premium workwear and safety wear for Sports Direct’s own retail purposes.
Sumitomo has the option to acquire these rights in the future subject to certain mechanical conditions for $12.5 million.
Photo courtesy Sports Direct
