Adidas Has Drawn Up A Shortlist Of Bidders For Its Brand Reebok

Adidas, a German sportswear group, has drawn up a list of potential bidders for its brand Reebok, including a joint bid by us shoe maker Wolverine world wide and brand transformation expert authentic brands group (ABG), as well as advent international, CVC capital partners, and brand transformation expert authentic brands group (ABG), according to sources familiar with the situation Four private equity funds, sycamore partners and Cerberus capital management, are required to submit their final bids in August.

It was previously reported in May that Adidas completed its plan to sell Reebok as soon as October. Anta, its FILA, Li Ning, and even a group of financial investors Apollo global management were extremely interested in Reebok or joined the bidding. Surprisingly, Anta and Li Ning, two major Chinese sportswear giants, are not included in Reebok's latest list of bidders.

In December 2020, Adidas confirmed the "sale of Reebok" news, and in February 2021, the government announced the sale of Reebok plan. Reebok's sale valuation is also concerned by the outside world. Recently, it is reported that Wolverine world wide and ABG jointly put forward a US $1 billion acquisition offer for Reebok; Before the outbreak, Reebok's sale was estimated at 2 billion euros, which was far lower than the 3.1 billion euros that Adidas bought Reebok in 2005.

Adidas acquired Reebok with the "home advantage" of Reebok, an American sports brand, to beat its then US rival, Nike. However, in the 10 years after its acquisition, Reebok has gone from being the world's third largest sports brand to "hot potato". In 2016, Kasper Rosted started the transformation plan after taking over the CEO of the group. It was still difficult to reverse the decline of Reebok's performance. During the epidemic period, its revenue plummeted, which also led investors to call for Adidas to sell the brand. Kasper rorsted even admitted in 2020 that the Reebok acquisition was one of the most expensive mistakes in the company's history.