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Adidas is selling Reebok after defending the $3.8 billion purchase for years

February 16, 2021

Adidas acquired Reebok in 2006 for roughly $3.8 billion in an attempt to better compete with Nike, but the brand has posted disappointing sales figures in recent years. Adidas said Tuesday that it has begun a formal process to divest from Reebok, pivoting to focus on its core brand. Business Insider