The Adidas Group today announced an agreement to acquire the shares of Five Ten, a leading US brand in outdoor action sports (pictured: Five Ten-equipped climber Carlo Traversi). The Frankish sports outfitter intends to acquire the entire business of Five Ten, including 100 percent of the issued share capital of Five Ten USA, the announcement said. The total purchase price is $ 25 million in cash plus contingent payments that are dependent on Five Ten’s achievement of certain performance metrics over the next three years. The transaction is expected to close in the next few weeks.
Ã ¢ Â ?? Â ?? As part of the Route 2015 strategic business planÃ ¢ Â ?? Â ?? the Adidas Group assumes Ã ¢ Â ?? Â ?? that sales in the outdoor segment will rise to more than 500 million euros by 2015 as a result of organic growthÃ ¢ Â ?? Â ??. With the takeover of Five Ten, the Adidas group will be even better positioned to become a leading player in the outdoor market. , was called ?? it further.
Ã ¢ Â ?? Â ?? We are very excited about the merger with Five Ten. Five Ten is a leading brand in the technically demanding outdoor market as well as within the outdoor action sports community. Five Ten products are highly regarded by climbers, mountain bikers and other outdoor athletes around the world, said Rolf Reinschmidt, Senior Vice President adidas Outdoor.
Just like Adidas, Five Ten Ã ¢ Â ?? Â ?? is characterized by a constant level of innovationÃ ¢ Â ?? Â ?? and share Ã ¢ Â ?? Â ?? the same passion for athletes Ã ¢ Â ?? Â ??. Five Ten is an excellent addition Ã ¢ Â ?? Â ?? for the portfolio of Adidas-Outdoor and will enable the company to expand Ã ¢ Â ?? Â ?? into complementary market segments Ã ¢ Â ?? Â ??, kÃ? ? ”Announced Reinschmidt. The takeover underlines the clear commitment in the outdoor area as well as the claim to assume a leading role in the outdoor industry in the future. He looks forward to working with Charles Cole, founder and president of Five Ten, on the way to this goal.
Adidas is Ã ¢ Â ?? Â ?? the athletic brand in the outdoor areaÃ ¢ Â ?? Â ??. The brand has a long tradition of innovative outdoor products. For example with product Ã ¢ Â ?? Â ?? legendsÃ ¢ Â ?? Â ?? like the Ã ¢ Â ?? Â ?? Super TrekkingÃ ¢ Â ?? Â ??, the first lightweight trekking shoe that was worn by Reinhold Messner on his first ascent of Mount Everest in 1978 without additional oxygen.
The multi-award-winning Terrex collection offers light, technically sophisticated equipment for athletes in the outdoor area. The tradition of the Adidas founder, Adi Dassler, who worked closely with athletes to make them even better, continues.
Adidas-Outdoor works with top outdoor athletes like the Huberbuam (mountaineering, Germany), Beat Kammerlander (mountaineering, Austria) and Barbara Zangerl (mountaineering, Austria) as well as with renowned organizations like the Alpin Center Zermatt (Switzerland) and Ragni di Lecco (Italy) together.
The Adidas Group is one of the world’s leading providers in the sporting goods industry and has a very extensive product portfolio around the core brands Adidas, Reebok, Taylorm-Made, Rockport and Reebok-CCM Hockey. The group, based in Herzogenaurach, employs more than 46,000 people worldwide and generated sales of twelve billion euros in 2010.
Five Ten is a family company that claims to Ã ¢ Â ?? Â ?? is committed to producing the very best outdoor sports shoes Ã ¢ Â ?? Â ??. It offers innovative products for athletes in areas such as mountaineering and mountain biking. Five Ten was founded in 1985 by Charles Cole. The company, based in Redlands, California, has 37 employees and is expected to generate sales of approximately 16 million euros in fiscal 2011 excluding the distributor business in Japan and Korea.