NIKE, Inc. Announces Sale of Cole Haan to Apax Partners

NIKE, Inc. Announces Sale of Cole Haan to Apax Partners

2012-11-16 12:44 CET NIKE, Inc. Announces Sale of Cole Haan to Apax Partners Beaverton, Ore., (November 16, 2012) – NIKE, Inc. (NYSE:NKE) announced today it has reached a definitive agreement to sell its Cole Haan affiliate brand to Apax Partners for $570 million. The transaction is expected to be complete in early 2013. “The decision to divest of Cole Haan allows us to sharpen our focus on opportunities with the highest potential for strong returns, and to make sure the brands within the NIKE, Inc. portfolio are the most complementary to the NIKE Brand,” said NIKE, Inc. President & CEO Mark Parker. Alex Pellegrini, a Partner in Apax's Retail & Consumer team, said, "We are excited to partner with Jack Boys to grow the Cole Haan brand in the U.S. and internationally. Cole Haan is an iconic brand with broad consumer appeal and we believe the brand has even greater opportunities in the future. We look forward to investing in the Company to achieve this growth." On May 31, 2012, NIKE, Inc. announced its intention to divest of Umbro and Cole Haan to sharpen its focus on driving growth in the NIKE, Jordan, Converse and Hurley brands. The sale of the Umbro brand to Iconix Brand Group was announced on October 24th. About NIKE, Inc. NIKE, Inc. based near Beaverton, Oregon, is the world's leading designer, marketer and distributor of authentic athletic footwear, apparel, equipment and accessories for a wide variety of sports and fitness activities. Wholly- owned NIKE subsidiaries include Converse Inc., which designs, markets and distributes athletic footwear, apparel and accessories and Hurley International LLC, which designs, markets and distributes action sports and youth lifestyle footwear, apparel and accessories; For more information, visit www.nikeinc.com and follow @Nike. About Apax Partners Apax Partners is one of the world's leading private equity investment groups. It operates globally and has more than 30 years of investing experience. Funds under the advice of Apax Partners total over US$35 billion around the world. These Funds provide long-term equity financing to build and strengthen world-class companies. Funds advised by Apax Partners invest in companies across its global sectors of Tech & Telecom, Retail & Consumer, Media, Healthcare and Financial & Business Services. For further information about Apax, please visit: www.apax.com. - - - NIKE, Inc., based near Beaverton, Oregon, is the world's leading designer, marketer and distributor of authentic athletic footwear, apparel, equipment and accessories for a wide variety of sports and fitness activities. Wholly- owned NIKE, Inc. subsidiaries include Converse Inc., which designs, markets and distributes athletic footwear, apparel and accessories and Hurley International LLC, which designs, markets and distributes action sports and youth lifestyle footwear, apparel and accessories Kontaktpersoner Eliane Zaeh Presskontakt [email protected].

View Full Text

Details

  • File Type
    pdf
  • Upload Time
    -
  • Content Languages
    English
  • Upload User
    Anonymous/Not logged-in
  • File Pages
    2 Page
  • File Size
    -

Download

Channel Download Status
Express Download Enable

Copyright

We respect the copyrights and intellectual property rights of all users. All uploaded documents are either original works of the uploader or authorized works of the rightful owners.

  • Not to be reproduced or distributed without explicit permission.
  • Not used for commercial purposes outside of approved use cases.
  • Not used to infringe on the rights of the original creators.
  • If you believe any content infringes your copyright, please contact us immediately.

Support

For help with questions, suggestions, or problems, please contact us