Adidas-Salomon AG announced that it closed its acquisition of Reebok International Ltd. on January 31, thus providing the new adidas Group with a footprint of around €9.5 billion ($11.8 billion) in the global athletic footwear, apparel and hardware markets.

"We are delighted with the closing of the Reebok transaction, which marks a new chapter in the history of our group," said adidas-Salomon chairman and CEO Herbert Hainer. "By combining two of the most respected and well-known brands in the worldwide sporting goods industry, the new group will benefit from a more competitive worldwide platform, well-defined and complementary brand identities, a wider range of products, and a stronger presence across teams, athletes, events and leagues."

With the close of the transaction, Paul Fireman is stepping down as CEO of Reebok International Ltd. and will serve as an advisor to Mr. Hainer. Reebok will retain its headquarters in Canton, Massachusetts, USA.