It what was likely a longtime coming, Adidas has announced it plans to sell Reebok, a brand the company purchased in 2005.
According to German publication Manager Magazin, Adidas hopes to complete the sale by March 2021 at which time Adidas CEO Kasper Rorsted will present his vision for the company’s five-year plan.
Adidas has already reduced the book value of Reebok by nearly half to 842 million euros ($995 million) since 2018. No possible sale price was provided. The publication didn’t provide sourcing for the information and Adidas didn’t provide confirmation.
The publication listed VF Corp. and Anta Sports as potentially interested in purchasing the Boston-based company.
