Adidas AG intends to sell its Reebok division

German sports equipment manufacturer Adidas AG intends to sell its Reebok division, German economic weekly Manager Magazin reports.

The magazine says that Adidas has developed an internal team that handles this transaction and intends to complete the sale of the Reebok brand by March 2021.

Interested parties include VF Corp., which owns the Timberland and North Face brands, as well as the Chinese group Anta International Group Holdings.

Even if Adidas CEO Kasper Rorsted hoped to get about two billion euros from the sale of Reebok brand before the pandemic, he would now be satisfied with a smaller amount.

Adidas took over Reebok in 2006 for $ 3.8 billion.

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