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Source: Adidas, Looking To Simplify Business, Will Put Hockey Brand CCM Up For Sale

Adidas is preparing to put Reebok-CCM "up for sale early next year as it simplifies its business," according to a source cited by Josh Kosman of the N.Y. POST. The apparel company "recently put its TaylorMade golf club brand on the market and with the CCM sale will exit the sports equipment space." Adidas has been positioning CCM, which has endorsement deals with the NHL Edmonton Oilers player Connor McDavid, among others, "as its own brand" (N.Y. POST, 12/2). REUTERS' Thomasson & Poeltz wrote Reebok bought CCM in '04 and "was then itself bought" by adidas in '06. Adidas "tried and failed to sell the unit" in '13 for $150M but has since "succeeded in turning the business around." Adidas last month hiked its '15 outlook for the brand, saying that it "now expects high single-digit sales growth, from a previous mid single-digit rate." Bryan Garnier & Co. analyst Cedric Rossi said that the business "could fetch" €160M-€250M ($169M-$265M) (REUTERS, 12/2).

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