Acquisitions
editNike has acquired several apparel and footwear companies over the course of its history, some of which have since been sold. Its first acquisition was the upscale footwear company Cole Haan in 1988,[1] followed by the purchase of Bauer Hockey in 1994. In 2002, Nike bought surf apparel company Hurley International from founder Bob Hurley.[2] In 2003, Nike paid US$309 million to acquire Converse, makers of the Chuck Taylor All-Stars line of sneakers.[3] The company acquired Starter in 2004[4] and Umbro, known as the manufacturers of the England national football team's kit, in 2008.[5]
In order to refocus on its core business lines, Nike began divesting of some of its subsidiaries in the 2000s.[6] It sold Starter in 2007[4] and Bauer Hockey in 2008.[7] The company sold Umbro in 2012,[8] and Cole Haan in 2013.[9] As of 2013, Nike owns two key subsidiaries: Converse Inc. and Hurley International.[10][11]
References
edit- ^ "Cole-Haan to Nike For $80 Million". The New York Times. 26 April 1988. Retrieved 13 February 2013.
- ^ Connelly, Laylan (22 January 2013). "Bob Hurley: Success built on everyone's inner surfer". Orange County Register. Retrieved 13 February 2013.
- ^ Partlow, Joshua (July, 2003). "Nike Drafts An All Star". The Washington Post. Retrieved 2008-06-02.
{{cite news}}: Check date values in:|date=(help) - ^ a b "Nike unloads Starter for $60M". Portland Business Journal. 15 November 2007. Retrieved 13 February 2013.
- ^ Townsend, Matt (24 October 2012). "Iconix Brand Buys Nike's Umbro Soccer Unit for $225 Million". BloombergBusinessweek. Retrieved 13 February 2013.
- ^ Dezember, Ryan (24 October 2012). "After Umbro, Nike Turns to Cole Haan Sale". The Wall Street Journal. Retrieved 12 February 2013.
- ^ Austen, Ian (22 February 2008). "Hockey Fan, and Investor, Buys Bauer From Nike". The New York TImes. Retrieved 13 February 2013.
- ^ Stevens, Suzanne (3 December 2012). "Nike completes Umbro sale to Iconix". Portland Business Journal. Retrieved 13 February 2013.
- ^ "Nike completes Cole Haan sale". Portland Business Journal. 4 February 2013. Retrieved 13 February 2013.
- ^ "Nike Completes Sale of Cole Haan to APAX Partners, LLP". Barrons / Business Wire. 1 February 2013. Retrieved 13 February 2013.
- ^ Brettman, Allan (16 November 2012). "With Cole Haan sale, Nike can focus on more important things, analysts say". The Oregonian. Retrieved 13 February 2013.