Adidas agreed to sell Mitchell & Ness, a U.S. sportswear seller, in a one-time gain in a low to medium double-digit million euro range, the German group said.
Adidas said it would re-invest the sale proceeds into its “Creating the New” strategy.
U.S. private equity firm Juggernaut Capital Partners owns the buyer, which is a newly formed entity.
The material has been provided by InstaForex Company – www.instaforex.com