Adidas to Sell Reebok in $2.5 B Deal

Adidas is selling Reebok to Authentic Brands Group in a deal worth about EUR 2.1 billion ($2.5 billion).

The largest sportswear manufacturer in Europe reportedly wants to focus on its main business and core brand

The German multinational company acquired Reebok in 2006 in a $3.8 billion deal that failed to meet expectations, as Adidas wanted to better compete with Nike.

On the contrary, Adidas gains in U.S. market share came on the back of marketing efforts, through partnerships and sponsorships with celebrities and famous athletes.