Adidas, the second-largest producer of sporting goods, announced the sale of the Rockport shoe brand for 280 million dollars. The new owner of this brand will be a joint venture of investors as part of Berkshire Partners investment company and New Balance, a sports shoe manufacturer.
As a result of the transaction, Rockport will become part of the new company, which will also include Drydock, owned by New Balance.
As a reminder, Adidas acquired Rockport in 2006 with the acquisition of Reebok. Having sold Rockport, which specializes in the production of fashionable women's and men's shoes, Adidas intends to concentrate on its main direction - sports goods.