Adidas sells Reebok brand to Authentic Brands Group in $2.5 billion deal

Adidas AG is all set to sell Reebok to Authentic Brands Group Inc. in a deal that could be at about 2.1 billion euros ($2.5 billion). The deal will help US-based Authentic Brands to include another well-known brand into its portfolio of consumer companies. According to a report by Bloomberg, the deal marks an important milestone in the growth of Authentic Brands Group, the company’s Chief Executive Officer Jamie Salter said in a statement.