Authentic Brands Group to Acquire Reebok
Authentic Brands Group (ABG) has announced a definitive agreement to purchase Reebok, the iconic active and footwear brand, from adidas.
Jamie Salter, Founder, Chairman and CEO of ABG, said, “We’ve had our sights set on Reebok for many years, and we’re excited to finally bring this iconic brand into the fold. Reebok not only holds a special place in the minds and hearts of consumers around the world, but the brand also has expansive global distribution. adidas has been an incredible steward of the Reebok brand, and we look forward to working with the Reebok team to continue their great work and further its position as one of the world’s leading consumer brands.”
Known for creating the first spiked running shoe, the first athletic shoe designed specifically for women and its breakthrough THE PUMP™ technology, Reebok has a rich and storied fitness heritage and continues to introduce innovations that propel the industry forward.
Today, Reebok sits at the intersection of active and lifestyle, offering high quality and modern styles that are adaptable for every sport. Recent trends have drawn more consumers to a market that the brand has excelled in for decades. Reebok currently operates in 80 countries, with approximately 70% of its business hailing from outside of the U.S. and Canada. Reebok continues to be a premier destination for athletic and casual offerings, and it is ABG’s goal to maintain the brand’s global footprint across retail, wholesale and e-commerce channels.
Reebok has deep ties to professional sports and pop culture and will continue striving to deliver on its mission of providing each and every athlete, from professionals to enthusiasts, with the opportunity, products and inspiration to reach their full potential.
Shaquille O’Neal said, “As a longtime partner of Reebok and an owner of ABG, it’s a dream come true to welcome this legendary brand to the family.”
With Reebok, ABG plans to employ its core playbook, connecting strong brands with best-in-class licensees and a network of partners that seek to optimize value in the marketplace. The brand’s world headquarters will remain in Boston and ABG will work closely with adidas, Reebok’s President Matt O’Toole and the entire Reebok team to transition the brand to ABG’s platform. Reebok’s operations will continue in the U.S. and Canada, Latin America, Asia Pacific, Europe and Russia.
The transaction, which is expected to close in the first quarter of 2022, is subject to customary closing conditions, including regulatory approval.
BofA Securities and Goldman Sachs & Co. LLC served as financial, strategic and M&A advisors, while also providing committed financing, and KPMG International Limited served as accounting and due diligence advisor for ABG. Latham & Watkins LLP acted as legal counsel for ABG. Private equity partners BlackRock LTPC, General Atlantic and Leonard Green & Partners, L.P. also played an instrumental role in this partnership.