Adidas is considering offers for its Rockport comfort shoe brand, Chief
Executive Herbert Hainer said Tuesday on the company's first quarter
conference call.
“We are
listening to these offers,” Hainer said, according to Reuters. Hainer
noted that the company has been continually asked if Rockport is for
sale.
A Wall Street Journal report indicated Adidas hired investment bank Guggenheim Partners to explore such a sales. Rockport has between $30 million and $40 million in annual earnings before interest, taxes, depreciation and amortization, or Ebitda, sources told the Journal. As such, the sources said Rockport could command $300 million or more.
Rockport, which was acquired by Adidas when it bought Reebok in 2006,
had sales of $53 million in the first quarter, down 12.1 percent on a
reported basis and off 6.9 percent on a currency-neutral basis.
