Adidas sells Reebok to US conglomerate after shareholder pressure

Adidas is selling Reebok to the US brand management company Authentic Brands Group for up to €2.1bn (£1.8bn), as the German sportswear firm concentrates on its core marque after pressure from investors. Reebok was bought for €3.1bn in 2006 in a blockbuster deal designed to help the trainers and clothing company take on rival Nike, but it never returned to its 1980s heyday and Adidas investors demanded action.
Read more: https://www.theguardian.com/business/2021/aug/12/adidas-sells-reebok-to-us-conglomerate-after-shareholder-pressure?source=Snapzu