Fri, 01 Jun 2012 | BUSINESS SALE
England football kit maker Umbro has been placed on the market by its US owner Nike.
A quick sale is being sought for the Manchester-based brand Umbro, along with the US shoe company Cole Haan. Both have enjoyed strong sales for shoes and clothing, but increasing raw material and fuel costs have impacted on their margins.
Nike bought Umbro for £285 million in 2009 in an effort to strengthen its presence in the football market, having been under pressure from rivals Adidas and Puma at the time.
The sportswear giant is now looking to offload the businesses in order for it to focus on its Nike, Hurley, Converse and Jordan brands.
Mark Parker, Nike’s chief executive commented on the move: “Divesting of Umbro and Cole Haan will allow us to focus our resources on the highest-potential opportunities for Nike, to continue to drive sustainable, profitable growth for our shareholders.”
Established in 1924 in Cheshire by brothers Harold and Wallace Humphreys, Umbro-branded gear comprises clothing for several national and club football teams in Europe.
It is believed that sports retailers such as JJB Sports or a private equity firm are the most likely buyers for the Umbro brand.
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