The US$110m sale was first announced in July

The US$110m sale was first announced in July

German sportswear giant Adidas has completed the sale of its CCM ice hockey business to a newly-formed affiliate of Birch Hill Equity Partners.

The US$110m sale was first announced in July as part of a bid by Adidas to focus on building its core namesake and Reebok brands.

Adidas to sell ice hockey brand for US$110m

The company said the divestiture does not impact its financial outlook for the current year and adds the sale has already been reflected in the updated long-term outlook as provided in March 2017.

It follows the sale of Adidas' golf business, including its TaylorMade, Adams Golf, and Ashworth brands, in a deal valued at $425m earlier this year.

Headquartered in Montréal, Québec, CCM is one of the world's largest designers, manufacturers and marketers of hockey equipment and related apparel.

Adidas upped its full-year outlook in July following a strong first-half performance that saw revenues from the company's continuing operations increase 19% on a currency-neutral basis and 20% in Euro terms to EUR5bn (US$5.9bn).

Adidas ups FY outlook on strong first-half