adidas Group Buys Distribution Rights for Brand Reebok in the Czech Republic and Slovakia
Herzogenaurach/Prague/Bratislava, September 19, 2006 – The adidas Group announced today that it has bought the distribution rights for the Reebok brand in the Czech Republic and Slovakia from RBK Sport CZ and RBK Šport SR respectively, Reebok’s distributors in the two countries. Effective January 1, 2007, adidas ?R s.r.o. will become the exclusive distributor of Reebok products in the Czech Republic and adidas Slovakia s.r.o. will become the exclusive distributor of Reebok products in Slovakia. Financial details of the transaction will be kept confidential.
The adidas Group has announced earlier this year the distributor buyout in Russia and China. Buying out Reebok distributors and joint ventures around the globe is a key component of the integration strategy and will provide the Group with annual revenue synergies totaling at least € 200 million by 2009.
RBK Sport CZ has been Reebok’s distribution partner since 1995 in the Czech Republic, RBK Šport SR has been holding the distribution rights for Slovakia since 1997. Until the end of 2006, RBK Sport CZ and RBK Šport SR respectively will continue to hold the exclusive rights to distribute and market Reebok products in the Czech Republic and Slovakia.
About the adidas Group
The adidas Group is one of the global leaders within the sporting goods industry, offering a broad range of products around three core brands such as adidas, Reebok and TaylorMade-adidas Golf. Headquartered in Herzogenaurach, Germany, the Group has more than 25,000 employees and sales of around €9.5 billion.