The company makes and markets hockey apparel and equipment and is based in Montreal. Its key brand names include CCM, JOFA and KOHO. It has a ten-year licensing deal with the NHL which kicks-in next season.
Originally announced in April, the move for a majority stake in the company – 92 percent – has already been approved by regulators.
Meanwhile, adidas has confirmed it has acquired collegiate and professional league apparel firm Valley Apparel of Cedar Rapids, Iowa.
Valley licenses apparel for over 140 colleges and universities, as well as over 100 legendary professional athletes, including such stars as Magic Johnson, Joe Montana and Joe Namath. The company, to be renamed adidas Team in 2005, will also continue to manage adidas’ licensed products such as Major League Baseball and Major League Soccer.
Said Erich Stamminger, president and CEO of adidas America: "Although this represents only a minor investment for the group, we are confident that this acquisition is another important step to better control the adidas brand in the all-important North American market.”
