The adidas Group acquired the distribution rights for the Reebok brand in Greece from RbK Hellas A.E.B.E. The agreement will take effect on January 1st, 2008, with adidas Hellas S.A. becoming the exclusive distributor of Reebok products in Greece.

Buying out Reebok distributors and joint ventures around the globe is a key component of the company’s integration strategy, with management expecting the maneuver to provide annual revenue synergies totaling at least €200 million by 2009.

Back on U.S. soil, local reports out of Spartanburg, S.C. have the adidas group investing approximately $150 million in a new distribution center that will bring 1,200 jobs to the area. This new distribution center would be the second in the locale for adidas.