Nike (NKE) to Sell Umbro Unit to Iconix (ICON) for $225M
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NIKE, Inc. (NYSE: NKE) today announced that it has reached a definitive agreement to sell its Umbro affiliate brand to Iconix Brand Group, Inc. (NASDAQ: ICON) for $225 million. The transaction is expected to be complete by the end of 2012.
NIKE, Inc. had announced its intention to divest of Umbro and Cole Haan to sharpen its focus on driving growth in the NIKE, Jordan, Converse and Hurley brands on May 31, 2012.
NIKE, Inc. had announced its intention to divest of Umbro and Cole Haan to sharpen its focus on driving growth in the NIKE, Jordan, Converse and Hurley brands on May 31, 2012.
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