Sports Licensed Division Acquires Mitchell & Ness Nostalgia
Canton, Mass., November 9, 2007 – The Sports Licensed Division (SLD), part of the adidas Group, today announced it acquired Mitchell & Ness Nostalgia Company, a wholesaler, marketer and distributor of authentic vintage athletic product. SLD uses its manufacturing and design expertise to grow and strengthen Mitchell & Ness' market position in the U.S. and key markets around the world. Financial details of the transaction are confidential.
Mitchell & Ness currently holds licensing agreements with the National Basketball Association (NBA), Major League Baseball (MLB), the National Hockey League (NHL) and the National Football League (NFL, through a Reebok sub-license) to reproduce historically accurate uniforms and other vintage-inspired athletic apparel.
“This acquisition will enable us to strengthen and expand our relationships with sports fans collecting and wearing vintage, authentic professional and college sports apparel,” said David Baxter, President of the Sports Licensed Division.
“Reebok’s licensed product expertise and worldwide footprint will enable us to enhance our market-leading position,” commented Peter Capolino, Mitchell & Ness President and Owner.
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 segments adidas, Reebok and TaylorMade-adidas Golf. Headquartered in Herzogenaurach, Germany, the Group has almost 30,000 employees and generated sales of more than €10 billion in 2006.
About Mitchell & Ness
Founded in 1904, Mitchell & Ness is headquartered in Philadelphia, PA and offers more than 1,600 authentic styles representing player jerseys, warm-ups and heavyweight jackets.