Adidas sells music

Adidas sells music

The latest news, Adidas Group said on August 3, the company has officially the The Rockport Co. Sold to a new holding company consisting of a joint venture of Boston Investment Berkshire Partners LLC and New Balance Holding Inc.

Subsequently, Rockport will face restructuring. The value of the transaction was US$280 million, leaving 16.4 billion U.S. dollars for the Adidas Group to focus on the operations of its core business.

Founded more than 40 years ago by the father and son group Saul and Bruce Katz in Canton, the Rockport brand is the first brand in the family's main business. Rockport popularizes the concept of "comfortable footwear" to men, women and children.

As part of the deal, Drydock Footwear LLC, the parent company of New Balance subsidiary, Cobb Hill, Aravon and Dunham brands will be with The Rockport Co. Convergence, the creation of The Rockport Group, which will be a brand new independent company, will provide Rockport, Cobb Hill, Aravon and Dunham's apparel and casual footwear products.

Rockport headquarters will remain in the Boston area.

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