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Adidas Exploring Strategic Alternatives For Reebok

Sports apparel giant Adidas AG (ADDYY.PK,ADDDF.PK) Monday announced that it has started exploring strategic alternatives for Reebok.

The strategic alternatives include both a potential sale of Reebok as well as Reebok remaining a part of the company. The company intends to announce a decision on the matter on March 10, 2021.

In 2006, Adidas acquired Reebok as a subsidiary, uniting two of the largest sport outfitting companies, but maintaining operations under their separate brand names. Adidas acquired all of the outstanding Reebok shares and completed the deal valued at $3.8 billion

"As a result of the successful implementation of the turnaround plan "Muscle Up" initiated in 2016, the brand was able to significantly improve its profitability and returned to the profit zone in 2018, two years earlier than initially planned under "Muscle Up". In 2019, Reebok also returned to the growth path. Driven by double-digit growth in its home market North America, global Reebok sales increased by 2% on a currency-neutral basis compared to the previous year," the company said in a statement.

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