A New Starter: Nike Acquires Brand For $43M

Nike has acquired 100% of the equity shares of Official Starter Properties LLC and Official Starter LLC for about $43M. The entities are the sole owners and licensors of the Starter, Team Starter and Asphalt brands, as well as master licensee of the Shaq and Dunkman brands. Nike has created Exeter Brands Group LLC to operate the business. Mary Gleason, former President & CEO of Group 3 Design, the company that has managed the Starter brand since ’99, has been named President of Exeter. Gleason will report to Nike Subsidiaries VP Scott Olivet (Nike).