On July 21st, according to the New York Post, Adidas AG (ADS.DE) Adidas Group has reached an agreement with its Canadian private equity firm Birch Hill Equity Partners for the sale of its CCM Hockey Ice Hockey Equipment business at a price of US$100 million.
After a strong recovery in performance, the German group has been trying to separate non-core businesses and focus on the core footwear business.
In May of this year, Adidas AG Adidas Group sold the three brands TaylorMade, Adams Golf and Ashworth to US private equity firm KPS Capital Partners LP for US$4.25 and the transaction is expected to be completed within this year.
The proportion of CCM Hockey ice hockey equipment business is smaller than that of golf business in the German group. In 2016, sales of CCM Hockey business dropped by 14.3% year-on-year to 271 million euros in 2016, accounting for only 1.4% of the total. The sales of golf business declined year-on-year in FY2016. 1.1% to 892 million euros, accounting for 4.6% of the group's net sales.
It is reported that CCM Hockey recorded $10 million in last year's EBITDA, which is equivalent to 10% of the selling price. However, sources stated that its clothing authorization has not been sold, and the apparel authorization of the NHL (North American Hockey League) will be transferred from CCM to the group's eponymous brand Adidas Adidas. .
CCM Hockey was previously Reebok's Reebok business, and Reebok Reebok was acquired by Adidas AG Adidas Group in 2005.
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