Retail Industry
Industry: Email Alert RSS FeedPentland plans to buy Adidas. (Pentland Group PLC, Adidas AG)
Footwear News, July, 1992 by Fallon, James
LONDON (FNS) -- Pentland Group PLC made a fortune helping create the Reebok phenomenon of the eighties. Last week, it disclosed plans to buy Adidas AG, to try to work some of the same magic in the nineties.
Pentland last Tuesday said it will buy the remaining 79.95 percent of the holding company of Adidas AG, Herzogenaurach, Germany, for 621 million marks ($411.26 million)in cash, which will give it 95 percent ownership of the athletic footwear and apparel company.
Pentland, which already owns the other 20.05 percent of the holding company, Bernard Tapie Finance GmbH, said it has no immediate plans to buy the 5 remaining 5 percent of Adidas owned by heirs of the Dassler family, which rounded the firm.
Pentland bought the 20.05 percent share...
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