NIKE sells Bauer Hockey unit for $200 mn

22 Feb '08

3 min read

"Bauer is the most coveted hockey brand in the world, dating back to 1927, and is a big part of hockey's DNA," said Roustan, who will serve as Chairman of Bauer Hockey. "It is a personal honor and privilege to have the opportunity to work with the existing dedicated team of professionals at Bauer and support this great company's continued industry leadership well into the future."

Nike decided to divest Bauer, acquired in 1995, following a strategic review of the company's subsidiary businesses. As part of the company's long-term growth strategy, Nike is optimizing its portfolio of subsidiary brands, which contribute more than $2 billion in annual revenues, to ensure the company is investing in the greatest growth opportunities with the highest returns.

Under the terms of the deal, Bauer will continue to use the Nike Bauer Hockey trademark on existing products for a period of up to two years.

Lazard acted as financial advisor, and Tonkon Torp acted as legal advisor to Nike in the transaction. Paul, Weiss, Rifkind, Wharton & Garrison acted as legal advisor to Kohlberg and Mr. Roustan.

NIKE Inc

More Nike News... More Fashion News - United States Of America...