UPDATE: Reebok Eyed by Blackrock-backed Forever 21 Owner Authentic Brands Group for $1bn Takeover

Forever 21 owner and Blackrock-backed Authentic Brands Group is considering purchasing Reebok in a $1bn deal.

British footwear brand Reebok was bought by fellow sportswear company Adidas in 2006 for $3.8bn. Adidas confirmed in February that it was weighing options for Reebok after shifting its focus on its eponymous products. Adidas had bought Reebok to better compete with top rival Nike.

The retailer is expecting offers from the Chinese groups, Anta Sports, which acquired Amer Sports – the owner of the Salomon and Arc’Teryx brands – in 2019, and Korean-owned Fila. US company Authentic Brands also owns Aeropostale, Brooks Brothers, Juicy Couture, Nine West, and Airwalk.

Last year, Reebok’s sales declined by 19 per cent to $1.7bn. Adidas had previously considered selling Reebok for a sum of $2.1bn in 2014, with possible buyers at the time including a Thai mogul and Emirati investment funds.

Source: Retail Gazette