Amer Sports buys out Salomon from Adidas

26 Jul '05

4 min read

Herzogenaurach based footwear, apparel and accessories maker adidas-Salomon AG announced that it has entered into a sale and purchase agreement to sell its Salomon business segment, including the related subsidiaries and brands Salomon, Mavic, Bonfire, Arc'Teryx and Cliché, to the Amer Sports Corporation. The transaction values the segment at approximately € 485 million based on year-end 2004 figures.

The final cash purchase price will be adjusted to reflect changes in capital employed. In addition, adidas-Salomon and Amer will enter into collaboration agreements in order to ensure a smooth transition. The sale is subject to antitrust authorities' approval in the EU, the US and other relevant jurisdictions. The transaction is expected to complete by the end of September 2005.

"Salomon has been a great member of Group. However, company decided that now is the time to focus even more on companies core strength in the athletic footwear and apparel market as well as the growing golf category," said adidas-Salomon Chairman and CEO Herbert Hainer. "Company is convinced that the Amer Sports Corporation is an ideal partner to bring Salomon to the next level."

"Salomon's offering fits perfectly with their own portfolio. The world's leading Freedom Action Sports brands of Salomon open up great new potential for Amer Sports. In winter sports, Salomon and Amer Sports' Atomic complement each other very well. Furthermore, the two companies and their brands support each other well in geographical terms, making their geographical coverage more balanced than before," says Roger Talermo, CEO and President, Amer Sports.

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