NIKE, Inc. had earlier announced it has reached a definitive agreement to sell its Cole Haan affiliate brand to Apax Partners for $570 million with the transaction expected to be complete in early 2013.
“The decision to divest of Cole Haan allows us to sharpen our focus on opportunities with the highest potential for strong returns, and to make sure the brands within the NIKE, Inc. portfolio are the most complementary to the NIKE Brand,” President & CEO Mark Parker at NIKE had said.
Wholly-owned NIKE, Inc. subsidiaries include Converse Inc., which designs, markets and distributes athletic footwear, apparel and accessories and Hurley International LLC, which designs, markets and distributes action sports and youth lifestyle footwear, apparel and accessories.
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