adidas Group Buys Distribution Rights for Brand Reebok in Greece
Herzogenaurach/Thessaloniki, March 16, 2007 - The adidas Group announced today that it has bought the distribution rights for the Reebok brand in Greece from RbK Hellas A.E.B.E. Effective January 1st, 2008, adidas Hellas S.A. will become the exclusive distributor of Reebok products in Greece. Financial details of the transaction will be kept confidential.
Buying out Reebok distributors and joint ventures around the globe is a key component of the integration strategy and will provide the adidas Group with annual revenue synergies totaling at least € 200 million by 2009.
At the local level, the two existing organizations adidas Hellas and Reebok Hellas will collaborate very closely on the integration to generate synergies and enhance the two brands’ presence in the market, while keeping distinct brand positioning towards retailers, stakeholders and consumers.
About the adidas Group
The adidas Group is one of the global leaders in the sporting goods industry, offering a broad range of products around the three core segments adidas, Reebok and TaylorMade-adidas Golf. Headquartered in Herzogenaurach, Germany, the Group has more than 26,000 employees worldwide and posted 2006 sales of over € 10 billion.