Adidas Group news and archive

Charlesbank completes acquisition of Rockport

Charlesbank Capital Partners has completed the acquisition of The Rockport Group, the company which owns footwear brands Rockport, Arabon and Dunham. “Affiliates of Charlesbank, in partnership with management, have acquired substantially all the assets of the company, including the North American wholesale and e-commerce operations, all of...

Business

Adidas Group seeks to shed golf brands

London - German sportswear group Adidas is seeking to shed the bulk its golf brands, which have been struggling as of late, in order to focus on further developing its core apparel and footwear sectors. In an announcement published on Wednesday, Adidas revealed that following an "analysis for the future options" of its golf business, it intends...

Fashion

Adidas acquires fitness app Runtastic for 220 million euros

London - German athletic company, Adidas Group, has bolstered its reach with its acquisition of the fitness app Runtastic. The transaction, which was signed and closed on Wednesday, values Runtastic at 220 million euros (155 million pounds). The new acquisition is said to be part of the group's strategic business plan 'Creating the New' and...

Business|REPORT Featured

Adidas FY14 sales rise

Shares of Adidas AG gained around 4 percent in Germany after the Sports goods giant reported Friday higher sales in fiscal 2014, with both top and bottom-line reaching financial targets on an underlying basis. The company also announced a definitive deal to sell its Rockport business for 280 million dollars. In its financial update, the company...

Business

Adidas to sell Rockport business to new entity

Sports goods giant Adidas said that it has entered into a definitive agreement to sell its Rockport business to a new entity formed by Berkshire Partners and New Balance for a total consideration of 280 million dollars, most of which will be paid in cash with the remainder comprised of notes. According to the company, New Balance will contribute...

Design

Adidas premium sports wear line SLVR to be discontinued

Adidas has announced that its high end sport line SLVR is being pulled from production. The line was launch in 2009, but is being taken off the market four years later. According to Sportswear International, the Adidas Group confirmed rumors that the SLVR collection will leave the market by spring 2014. A spokesperson from the Group shared that...