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Following a highly competitive months-long auction process conducted by parent company Adidas, sneaker brand Reebok finally found a buyer.
Authentic Brands Group, which has been scooping up notable retail and consumer brands for the past decade, is making its largest purchase to date with the acquisition valued at about $2.5 billion (€2.1 billion).
The all-cash deal is expected to close in the first quarter of 2022, with Reebok’s headquarters remaining in Boston.
A global footprint
A spokesperson for the brand management firm said Reebok was particularly attractive given its large international footprint.