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Authentic Brands Group (ABG) has announced that it has completed the acquisition of Reebok from Adidas in a £1.75bn deal.
As it ushers in its “largest acquisition to date”, the global brand development, marketing and entertainment company said it is charting a new path for Reebok.
With Reebok, ABG said it will aim to connect strong brands with best-in-class partners and a global network of operators, distributors, and retailers to optimise value in the marketplace.
It added an “essential pillar” of ABG’s strategy is preserving Reebok’s DNA and a commitment to the brand’s heritage through the formation of Reebok Design Group (RDG) in partnership with SPARC Group. RDG is the global brand hub for the design, development and innovation for footwear and apparel servicing partners around the world.
Jamie Salter, founder, chairman and CEO of ABG, said: “Reebok is a brand that needs no introduction. The Reebok team has done an incredible job of cementing Reebok’s place in the minds and hearts of consumers. Through ABG’s operating model, Reebok will have the ability to evolve and embrace its iconic creativity, quality and innovation. It’s time to let Reebok be Reebok.”
To support the new global structure for Reebok, ABG revealed it has assembled a roster of “key players” from around the world who will drive distribution and further Reebok’s business in key territories while upholding the brand’s integrity and values.
Since announcing its definitive agreement to purchase Reebok in August 2021, ABG has secured a slate of trusted partners including New Guards Group, SPARC Group, Tristate, Trend Marketing, Al Boom Marine, Aditya Birla Fashion Retail Limited, The Falic Group, Accent Group, MGS, Bounty Apparel, Distrinando, SM Retail, CRC Sports, HSV Group, PT Mitra, JD Group and Foot Locker, Inc.
