Authentic Brands Group’s acquisition of sports brand Reebok has helped it secure investment from funds advised by CVC Capital Partners and HPS Investment Partners.

New York-based Authentic Brands (ABG) announced its acquisition of Reebok from the adidas group in August. It expects to complete the deal in the first quarter of 2022.

ABG chief executive and founder, Jamie Salter, said he was thrilled that CVC and HPS were “coming on board as significant stakeholders”. He said commitment from these high-profile groups was a testament to “the exceptional work our team has put forth”. 

The group said the acquisition of Reebok would take its total annual sales revenues to more than $20 billion, with global distribution in more than 150 countries. 

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