Jan 15 (Reuters) - Collective Brands Inc said it would acquire the Above The Rim (ATR) brand from Reebok International, owned by Germany's Adidas AG, for an undisclosed amount.
Collective Brands, which owns the Payless brand, said the deal would let its Collective Licensing International, which licenses a range of brands in more than 100 countries worldwide, expand the ATR brand.
Collective Licensing has brands like Airwalk, Vision Street Wear, Sims, Lamar, Hind and Spot Bilt in its portfolio.
'ATR fits nicely with the CLI business model and team, which is focused on youth lifestyle and athletic brands inspired by music, street fashion and West Coast lifestyle activities like board sports and others,' said Matt Rubel, chief executive of Collective Brands.
Shares of the Topeka, Kansas-based company were down 14 cents at $21.32 Friday morning on the New York Stock Exchange.
(Reporting by Shobhana Chadha in Bangalore; Editing by Ratul Ray Chaudhuri) Keywords: REEBOK/MERGER COLLECTIVEBRANDS (shobhana.chadha@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: shobhana.chadha.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Collective Brands, which owns the Payless brand, said the deal would let its Collective Licensing International, which licenses a range of brands in more than 100 countries worldwide, expand the ATR brand.
Collective Licensing has brands like Airwalk, Vision Street Wear, Sims, Lamar, Hind and Spot Bilt in its portfolio.
'ATR fits nicely with the CLI business model and team, which is focused on youth lifestyle and athletic brands inspired by music, street fashion and West Coast lifestyle activities like board sports and others,' said Matt Rubel, chief executive of Collective Brands.
Shares of the Topeka, Kansas-based company were down 14 cents at $21.32 Friday morning on the New York Stock Exchange.
(Reporting by Shobhana Chadha in Bangalore; Editing by Ratul Ray Chaudhuri) Keywords: REEBOK/MERGER COLLECTIVEBRANDS (shobhana.chadha@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: shobhana.chadha.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
