ABG To Acquire Reebok From Adidas After Sluggish Performance

Owing to the sluggish performance, Adidas has confirmed to sell Reebok to American brand management company "Authentic Brands Group (ABG)" for 2.1 billion euros. The German sporting goods company reported that Reebok’s sales increased to 823 million euros as compared to 600 million in 2020. It also made a profit of 68 million euros. "We've had our sights set on Reebok for many years,” said Jamie Salter, CEO of ABG.