Report: Field of Reebok Suitors Narrows
Wolverine Worldwide, parent of the Saucony and Merrell brands among others, is among a field of five potential buyers for Reebok, according to July 1 published reports from Bloomberg and Reuters. WWW has reportedly been asked to submit a final bid for the Vector brand next month to join buyout firms Advent, CVC, Cerberus, and Sycamore as a potential Reebok acquirer.
Wolverine will reportedly partner with Authentic Brands Group on its bid, but it’s unclear at this point what role each company would have with Reebok if declared the highest bidder. (In other news, Authentic Brands Group, which has a portfolio of more than 30 brands, this week filed for an IPO.)
As for Reebok — Adidas purchased the brand for $3.8 billion some 15 years ago, but is likely to procure less than one-third of that for the Reebok label and business now.