Fashion giant Benetton Group SpA on Friday completed its exit from the sports businesses with the sale of its Prince sports equipment brand for 36.5 million euros.

The company said it had agreed the deal with Lincolnshire Equity Fund LP and added the US-based private equity group will also acquire the Ektelon brand from Benetton as part of the deal.

Benetton recently sold its Nordica ski boot line and Roller Blade in-line skate unit.