Fila completed the sale of the subsidiaries comprising Fila's European, Middle East, African and Indian businesses (EMEA) to the European based management team. It also entered into a long-term license for the Fila brand in the EMEA region.
This transaction culminates the restructuring plan that was developed nearly one year ago when GLBH Holdings S.a.r.l. acquired the Fila business from Cerberus Capital Management.
Yoon Soo (Gene) Yoon, chairman and CEO of GLBH stated, “With the completion of our restructuring plan and the repayment of the acquisition debt, we are now poised to focus on the growth of the Fila brand worldwide and the turn-around of our US business, both of which are well underway.”