Iconix completes $225M acquisition of Umbro
NEW YORK (AP) — Clothing licensing company Iconix said Monday that it has completed its $225 million acquisition of the Umbro brand, known for its soccer jerseys, from Nike Inc.
Iconix Brand Group Inc. is adding Umbro to its 29 consumer brands, which include Candie's, Danskin and Badgley Mischka.
The transaction with Nike was announced in October. Nike had acquired Umbro in 2008 for $582 million. The Beaverton, Ore., company announced in May that it planned to sell the Umbro and Cole Haan brands to cut costs and focus on its namesake Nike brand, along with Jordan, Converse and Hurley.
Founded in 1924 in Manchester in the United Kingdom, Umbro was one of the first makers of soccer gear. Today, it carries soccer jerseys as well as shoes, jackets and other clothing.
This is Iconix's second purchase from Nike. The New York company bought the athletic clothing brand Starter in 2007.
