Nike Buys Umbro for $582 Million
October 23, 2007 by Jyle Dupuis
Filed under News
American based mega corporation Nike, bought out their British rival Umbro, for 582 million dollars. The buyout came as a shock to the world, but don’t expect to see much change. Nike has plans for furthering the success of Umbro.
“We are fully committed to helping Umbro reach its full potential and we are delighted that Umbro’s board is unanimous in its support of our offer,” said Nike president and chief executive Mark Parker.
Nike is already the official sponsor for the Brazil national team and English Premiership clubs Manchester United and Arsenal and they have plans on expanding to engulf the Norway, Republic of Ireland and Sweden national football teams. Their goal is to become the mains sponsor for the 2010 World Cup in South Africa.
It’s sad to see merges such as these. Puma is PPR, Reebok is Adidas, and now Umbro is Nike.
Source: WorldCupNews
Tags: nike umbro, nike news, umbro news
Now who owns Adidas …Nike, Umbro orrrrr?