Nike acquires Umbro
Nike is to acquire UK-based Umbro PLC for $582 million through its subsidiary, Nike Vapor Ltd.
Umbro, together with its 45 international licensees, supplies uniforms to the national teams of England, Ireland, Sweden and Norway as well as six English Premier League teams and more than 100 other professional teams globally.
The company reported a net profit of £19.8 million pounds ($40.4 million) in 2006, down from £22 million pounds in the previous year.
Nike intends to operate Umbro as an independent, UK-based subsidiary, similarly to its Converse brand of athletic shoes.
The news means that one of the
giants of sportswear and footwear is about to get bigger. The deal, which will significantly expand Nike’s global
presence in football (soccer).
