RSS   Newsletter   Contact   Advertise with us

Adidas sells U.S. sportswear company Mitchell & Ness

Share on Twitter Share on LinkedIn
Staff writer ▼ | May 27, 2016
Adidas agreed to sell U.S. sportswear seller Mitchell & Ness, resulting in a one-time gain in a the low to medium double-digit million euro range.
Mitchell & Ness
Selling   "Creating the New" strategy
The German group said in a statement it would re-invest the proceeds of the sale into its "Creating the New" strategy.

"Nostalgia headwear and apparel is not core to this strategy and the sale of Mitchell & Ness will allow us to reduce complexity and pursue our target consumer more aggressively with our core brands," Adidas said in a statement on Friday.

The buyer is a newly formed entity primarily owned by U.S. private equity firm Juggernaut Capital Partners.