GERMANY: No Big Buys For Adidas-Salomon Says CEO
The head of German sportswear giant Adidas-Salomon AG on Monday said he is not planning any major acquisitions at present but would consider snapping up some smaller brands to boost its portfolio.
CEO Herbert Hainer told business newspaper Handelsblatt in the same interview that Adidas is unlikely to knock world leader Nike off the top spot in the near future and reaffirmed his company's five per cent sales growth outlook.
He added: "We'll buy small brands if they'll bring forward our current marques and round off our portfolio. Otherwise, we're well positioned in both summer and winter sports."
Companies: Nike Inc
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