Market Overview

NIKE to Sell Umbro to Iconix Brand Group

Share:
Related NKE
Top 5 NCAA Apparel Deals Compared To Under Armour's Record Breaking UCLA Deal
Should Under Armour Take A Swing at Adidas' Taylor-Made?
Tracking Stephen Mandel's Lone Pine Capital Portfolio - Q1 2016 Update (Seeking Alpha)

NIKE (NYSE: NKE) today announced that it has reached a definitive
agreement to sell its Umbro affiliate brand to Iconix Brand Group, Inc.
(NASDAQ: ICON) for $225 million. The transaction is expected to be
complete by the end of 2012.

NIKE, Inc. had announced its intention to divest of Umbro and Cole Haan
to sharpen its focus on driving growth in the NIKE, Jordan, Converse and
Hurley brands on May 31, 2012.

“It is a difficult decision to divest any business but this action will
enable us to focus on our highest-potential growth opportunities,” said
NIKE, Inc. President and CEO Mark Parker. “Umbro has a great heritage,
but ultimately, as our category strategy

See full press release

Posted-In: News Guidance Financing Contracts Asset Sales Management M&A Global

 

Related Articles (ICON + NKE)

View Comments and Join the Discussion!