September 14, 2020
Nike has bought soccer brand Umbro for $582 million. Umbro’s directors unanimously recommended that shareholders accept the offer for the 70-year-old heritage brand.
The acquisition will expand Nike’s share in soccer, a key growth category for the company. Since the early 1990s, Nike has grown its soccer revenues from about $40 million to approximately $1.5 billion. Umbro sells products directly or through licensees in more than 90 countries and has sports marketing relationships with many soccer players, teams and leagues, including the England national team.
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