Breaking: Adidas announces major business decision!

This is a major transaction.

HockeyFeed
HockeyFeed
Published 6 years ago
Breaking: Adidas announces major business decision!
Keystone Press

Major shakeup in the hockey world as Adidas, authentic outfitter of on-ice uniforms and official supplier of licensed apparel and headwear for the NHL, has agreed to sell its CCM hockey brand for approximately $100 million to Canadian private equity firm Birch Hill Equity Partners.

As reported by the New York Post, the successful sale comes after a failed attempt in 2013 to sell CCM for $150 million. As of now, CCM, which is based in Weston, Ontario, generates close to $10 million annually before any deductions. 

The sale is in trend with Adidas’ recent decisions, namely the sale of TaylorMade golf division, which in the past had also collaborated with CCM for the creation of the RBZ stick line.  

More details to come.


Source: NYPost