adidas-Salomon AG has announced that it is to sell its Salomon businesses, which include the brands Salomon, Mavic, Bonfire, Arc'Teryx and Cliché, to the Amer Sports Corporation.

The deal is valued at GBP330 million and is expected to complete by the end of September 2005.
The sale dwarfs the recent purchase of Rossignol by Quiksilver, which was valued at GBP166 million, a sale which announced Quiksilver intention to compete with the big boys of Nike and adidas.

"We decided that now is the time to focus on our core strength in the athletic footwear and apparel market as well as the growing golf category," said adidas-Salomon Chairman and CEO Herbert Hainer.

Based in Herzogenaurach, Germany, adidas-Salomon is the second largest sporting goods company in the world.

In 2004, adidas-Salomon achieved sales of GBP4.4 billion and posted a record net income of GBP213 million, with 17,023 employees worldwide.

Headquartered in Annecy, France, in 2004 Salomon posted sales of GBP443 million, achieved an operating profit of GBP6 million and employed 2,769 people.

The Salomon family of brands consists of Salomon (winter sports inc. skis, snowboards, ski boots and bindings and summer sports inc. inline skating, hiking footwear and apparel), Mavic (bicycle components), Bonfire (snowboard apparel), Arc'Teryx (technical outdoor wear) and Cliché (skateboards as well as footwear and apparel).

Amer Sports operates leading sports brands including Wilson (racket and team sports equipment and golf), Atomic (winter sports equipment), Suunto (sports instruments) and Precor (fitness equipment).

Mail this page to a friend
What do you think? Tell us in the Chat Room