adidas Sells Reebok to Authentic Brands Group for $2.5 Billion USD

The Three Stripes and the vector brand are officially parting ways. adidas has agreed to sell Reebok to Authentic Brands Group Inc. for $2.5 Billion USD, and the deal is expected to close sometime during the first quarter of 2022.Reebok was first brought under the adidas umbrella back in 2006 when the German sportswear entity acquired them for $3.6 Billion USD. And while in most recent years Reebok started to make bigger waves across the industry with striking lifestyle collaborations, cashing i...