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Amer Sports buys out Salomon from Adidas

26 Jul '05

4 min read

"Company have been enjoyed being part of the adidas-Salomon Group for the last eight years in which Salomon developed leading positions both in the winter and summer sports market for Freedom Action Sports," stated Salomon President Jean-Luc Diard. "They are well positioned for further growth in all areas of their business. They are excited about joining the Amer Sports Corporation given its competencies in the winter sports market. This new partnership will help them to leverage the full potential of their family of brands."

Salomon's production-related restructuring program that was initiated last year will go forward as planned. Jean-Luc Diard will continue to lead the Salomon Group and will report to Roger Talermo, CEO and President of Amer Sports. adidas-Salomon and the Amer Sports Corporation have agreed to cooperate closely to ensure a smooth transition for Salomon.

Germany based adidas-Salomon is the second largest sporting goods company in the world with its core brands adidas and TaylorMade-adidas Golf. In 2004, adidas-Salomon achieved sales of € 6.5 billion and posted a record net income of € 314 million, with 17,023 employees worldwide.

adidas-Salomon AG will remain the company's name for the time being. During the transition phase all the necessary steps will be taken to change the name to adidas AG. The name change will be subject to shareholder approval at the 2006 Annual General Meeting.

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