Pursuits
Iconix Brand Buys Nike’s Umbro Soccer Unit for $225 Million
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Iconix Brand Group Inc. agreed to acquire Nike Inc.’s Umbro sports apparel and footwear unit for $225 million in cash.
The deal is expected to close by the end of the year, New York-based Iconix said in a statement. Nike bought Umbro, which was founded in 1924, in 2008 for about 302 million pounds ($483.7 million), according to data compiled by Bloomberg.