Pages: 1
Nike agrees £285m Umbro takeover
(Click here to view the original thread with full colors/images)
Posted by: forwardone
Nike agrees £285m Umbro takeover
http://newsimg.bbc.co.uk/media/imag...3body_getty.jpg Recent England kit sales have been disappointing
Umbro, the maker of the England football team's kit, has agreed to be bought by US sportswear giant Nike in a deal worth £285m ($580m). Nike said the deal would allow it to "significantly expand" its presence in football, describing the area as "a key growth category" for the firm.
As well as providing kit for the England team, Umbro also supplies the kit for six Premier League clubs.
Recent sales of England replica tops have been disappointing.
Speculation had been rising that Nike was set to launch a bid after Umbro said last week that it had received an approach about a possible offer.
On Friday, retailer JJB Sports bought a 10.1% stake in Umbro in a move to protect its stake in the market for England football shirts.
'Excellent deal'
In addition to the England team, Umbro also provides kit for the Republic of Ireland, Northern Ireland, Norway, and Sweden.
ENGLISH PREMIER LEAGUE CLUBS WITH UMBRO KIT
Birmingham
Blackburn
Everton
Sunderland
West Ham
Wigan
http://newsimg.bbc.co.uk/nol/shared...dashed_line.gif
See Umbro's share price
In the Scottish Premier League, Umbro supplies kit to Rangers and Hearts.
Under the terms of the offer, Umbro shareholders will receive 193.06p for each share.
The chief executive of Umbro, Steve Makin, said the offer was an "excellent deal" for shareholders.
"We will be a stronger and better business as part of Nike and this deal will allow us to accelerate our existing growth strategy by leveraging Nike's global resources and expertise," he added.
Brian Barwick, the chief executive of the FA, said: "We are delighted that the proposed acquisition will allow us to continue our strong historical relationship with Umbro while benefiting from the marketing expertise and financial strength of Nike.
"Nike has provided firm assurances that the FA relationship with Umbro will be protected and enhanced, and we look forward to working closely with both companies moving forward."
BBC News
Posted by: addy999
there is no denying the fact that the fan following for football has increased a great deal in these years and yes the football sportswear are much in now a days.this could be a remarkable deal in years to come
Posted by: forwardone
Yes, most things connected with popular sports seem to be on a `winner.`