Adidas (ADDYY) has sold CCM, its hockey equipment brand, to a Canadian PE firm for +/-$100 Million, a significant drop from the $150 Million they were asking for in 2013. The sale continues a trend for Adidas, selling off subsidiaries like TaylorMade, to focus on their core footwear business. Adidas, which owns the NHL apparel license will be replacing the CCM logo on NHL uniforms with the Adidas logo. The CCM logo will remain on player helmets and sticks.
Adidas laces up $100M hockey brand sale
Fan Marino says: Great timing. The NHL is releasing new jerseys for this season, and hasn’t begun selling them to the fans yet. If you buy an authentic jersey for a few hundred dollars, it should come with the logos they actually wear on the ice.
Howie Long-Short opines: CCM is no Bauer, in the opinion of this one-time hockey player. Seeing an Adidas logo on hockey jerseys will feel bizarre. Not very meaningful for the quarter #, and analysts/investors will definitely look through it. $100MM is a drop in the bucket.