Authentic Brands Group, a worldwide brand owner, marketing, and entertainment firm, announced that it had reached a formal deal to buy Reebok from Adidas.
Reebok is an iconic sportswear and footwear business best known for inventing the first spiked running shoe, the first athletic shoe made specifically for women, and The Pump technology. Reebok has a strong and historic fitness background and continues to offer innovative technologies that push the shoe industry ahead.
Reebok is a premier destination for athletic and casual offerings with operations in 80 countries and 70 percent of its business coming from outside the U.S. and Canada. Shaquille O’Neal “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” The company will continue to deliver on its mission of providing athletes with the opportunity, products and inspiration to reach their full potential.
ABG plans on connecting Reebok with strong brands and a network of partners to optimize its value in the marketplace. The deal is expected to close in the first quarter of 2022 and is subject to customary closing conditions, including regulatory approval. ABG will continue to work with Adidas, Matt O’Toole and the entire Rebok team to transition the brand to ABG’s platform.
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