Reebok sale: Adidas hires JPMorgan to sell sports brand

The next indication that the separation should quickly become concrete: According to information from manager magazin, Rorsted mandated the investment bank JP Morgan a few weeks ago. The “Frankfurter Allgemeine” also reported on the order on Friday.

Spicy: Adidas supervisory board member Jing Ulrich (53) earns her main job at JPMorgan. The native Chinese with American citizenship has worked for the US investment bank since 2005, and has been Vice Chairman of Global Banking and Asia Pacific at JPMorgan in New York since June 2019.

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Adidas did not want to comment on a request from manager magazin about the role Jing Ulrich played in awarding the sales mandate to JPMorgan.

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Interested parties from the USA and China for Reebok

Adidas took over Reebok in 2006 for 3.1 billion euros, but has never been able to restore the brand to its former glory since then. The US multinational VF Corporation (Vans, Timberland, The North Face, Eastpak, Lee, Wrangler), which recently took over the cult fashion label Supreme for 2 billion dollars, is considered interested.

According to manager magazin information, the Chinese Anta group, which has already realigned the Italian fashion brand Fila, should also be interested. Anta had recently taken over the Finnish Amer Sports for 5.6 billion euros. The Finnish sports brands include tennis specialist Wilson and the ski brands Salomon and Atomic. A few weeks ago she had “Financial Times” reports that the financial investors Permira and Triton are considering an offer for the US subsidiary Reebok.

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Most recently, as announced by Rorsted in the summer, Adidas has returned to profitability. The operating result in the third quarter was 794 million euros, just 12 percent below the previous year. After nine months there are 526 million (previous year: 2.4 billion) euros to book.

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