Blog: Adidas bid rumours
Leonie Barrie | 18 April 2007
Hot on the heels of last week’s bid for Puma by PPR, Adidas is in the news amid renewed talk of private equity interest in the sportswear group. The rumours have been around for a while now, but analysts recently said they would be hard pushed to think of a private equity group with both the resources and an interest in the group.
Today, though, the name of that private equity firm emerged as Apax Partners, which was behind last year’s US$1.6bn acquisition of Tommy Hilfiger Corporation. The company is thought to be preparing a tender offer for 25% in Adidas as a precursor to an all-out bid – and tellingly, perhaps, didn’t deny the market speculation when contacted by just-style today.
However, Apax may not be alone in casting its eye over Adidas, since Mike Ashley, the founder of Sports Direct, bought a 3.14% stake in the business at the end of March and is now thought to be putting together his own consortium to make a bid for the European sports brand. But Adidas will not come cheap, and Mr Ashley will have to move quickly if he is to beat Apax.
Any take-over attempt is likely to value Adidas at more than EUR9bn, and could be welcomed by the firm, which is struggling to turn around its $3.8bn acquisition of Reebok last year. Other factors that make Adidas an attractive target are its international management team and relatively small German workforce, which are likely to shield it from a political backlash.
With the ultimate aim of ensuring all the cotton in its products is sourced sustainably, value clothing retailer Primark is adamant that having a business model focused on offering the lowest prices o...
Last week we marked the inauguration of Donald Trump as the 45th president of the United States by taking a closer look at what's at stake for the textile and apparel trade – especially his promises t...
Continuing our look at what lies ahead for the apparel industry and its supply chain in 2017, the panel of industry experts consulted by just-style last week tackled likely shifts in the sourcing land...
This week our focus turns to first thoughts from a panel of industry experts consulted by just-style on the challenges and opportunities likely to face the apparel supply chain in 2017, with prospects...
- US apparel sector braces for potential cost hikes
- Trade Tracker – Trump's first weeks, Brexit agenda
- Vietnam grows share of US apparel imports in 2016
- Key trade issues facing US textiles and apparel
- Does a hard Brexit mean hard times for UK fashion?
- Bangladesh "high threat" for terrorist activity
- VF Corp sees Q4 and FY earnings tumble
- Sales at US clothing retailers jumped in January
- Ralph Lauren new execs to support Way Forward Plan
- US Q4 in brief – VF Corp, Kate Spade, Rocky Brands
- When Things Go Wrong - A Practical Guide to Managing Common Problems in Apparel Sourcing
- Outdoor performance apparel 2016: A broader perspective
- Technical textile markets: product developments and innovations, December 2016
- Global market review of lingerie – forecasts to 2022
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar