Adidas sells ice hockey brand to Birch Hill for $110 mln: Reuters
German sportswear group Adidas AG has agreed to sell its CCM ice hockey brand to Canadian private equity firm Birch Hill Equity Partners for US$110 million ($138 million) as it focuses more strongly on its core Adidas and Reebok brands, Reuters reported. Adidas has shaken up its business in the United States and shed non-core businesses to regain ground lost to Nike Inc, outpacing its rival's sales growth in key markets this year. Birch Hill will pay most of the purchase price for CCM in cash and the rest in the form of a secured note, Adidas said. Based in Montréal, CCM is a designer, manufacturer and marketer of ice hockey equipment and related apparel. It was acquired by Reebok in 2004.
27 July 2017•2 mins read
