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Adidas sells CCM ice hockey brand for $110 million to Birch Hill

Birch Hill will pay most of purchase price for CCM in cash and rest in form of secured note: Adidas

Reuters  |  Frankfurt 

German sportswear group Adidas has agreed to sell its CCM ice hockey brand to private equity firm Birch Hill Equity Partners for $110 million, it said on Thursday, as it focuses more strongly on its core Adidas and Reebok brands. Adidas has shaken up its business in the United States and shed non-core businesses to regain ground lost to Nike, outpacing its rival's sales growth in key markets this year. It sold its golf business this year, striking a deal in May to sell brands TaylorMade, Adams Golf and Ashworth to private equity firm KPS Capital Partners for $425 ...

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First Published: Fri, July 28 2017. 04:54 IST