adidas completes divestiture of CCM Hockey

adidas announced that as of September 1, 2017 it has formally completed the previously announced divestiture of its CCM ice hockey business to a newly formed affiliate of Birch Hill Equity Partners.

The divestiture of CCM Hockey does not impact the company’s financial outlook for the current year. In addition, the strategic divestiture of the ice hockey brand has already been reflected in the company’s updated long-term outlook as provided in March 2017.

Headquartered in Montréal, Québec, CCM is one of the world’s largest designers, manufacturers and marketers of hockey equipment and related apparel.

Robert W. Baird & Co. acted as exclusive financial advisor to adidas AG and Stikeman Elliott LLP served as lead legal counsel.

adidas is a global leader in the sporting goods industry with the core brands adidas and Reebok. Headquartered in Herzogenaurach/Germany, the company employs 60000 people across the globe and generated sales of EUR 19 billion in 2016.