Adidas Group has confirmed it is to become the 'Official Sportswear Partner' of the London 2012 Olympics, with the $201m deal the biggest single investment that the German sportswear group has ever put into a UK sporting event.

The deal was reported earlier this week by just-style, ahead of today's announcement in central London.

Adidas has secured the agreement with the London Organising Committee of the Olympic and Paralympic Games (LOCOG), becoming a 'Tier One' partner.

The company will be the exclusive supplier of branded and unbranded sports merchandise, together with volunteers at all venues. It will also supply apparel for Team GB and Paralympics GB.

Herbert Hainer, CEO and chairman of the Adidas Group said: "This is a fantastic opportunity for Adidas and we are excited to become a Tier One partner of the London 2012 Olympic Games and Paralympic Games.

"Our deep involvement in the Games will help us to become the leading sports brand in the UK, the largest sportswear market in Europe."

LOCOG chairman Lord Sebastian Coe said: "In Adidas we have a partner that not only understands the audience but also understands sport. The long Adidas association with the Olympic Games makes them the perfect fit for the sportswear category.

"No other sportswear brand can claim to be actively involved in 25 of the 26 Olympic sports that will be on show at London 2012."