Adidas has retained JPMorgan Chase to assist with a potential sale of its Reebok brand, according to The New York Times.
According to The New York Times, the Reebok sale could net Adidas ‘around US$1 billion’, a significant drop on the near US$4 billion the company paid in 2005.
On October 22, reports surfaced that Adidas was exploring a sale of the long-struggling Reebok brand, which it had acquired in 2005.
Germany’s business magazine Manager Magazin said Adidas planned to complete the sale by March 2021.
According to a report in the Financial Times from November 9, two major private equity firms, Permira and Triton, were exploring an acquisition of Reebok from Adidas.
Photo courtesy Reebok