Why Adidas Is Selling Reebok
The German sportswear giant has more urgent priorities as it navigates out of the pandemic, and Reebok’s rich sneaker archive could be appealing to a range of buyers. Adidas is putting Reebok up for sale, the company said Tuesday, likely at a steep discount to the $3.8 billion it spent 16 years ago to acquire the Boston-based brand, best known for its retro styles. The deal is expected to close quickly, as Adidas said it plans to remove the brand from its reporting as of the