Nike sheds businesses in South America

Nike sheds businesses in South America

M&A Debt Loans Equity Argentina Chile Brazil Mexico Uruguay

US athletic shoe and apparel company said on Thursday that it agreed to sell its businesses in Argentina, Chile and Uruguay to Mexican retailer Grupo Axo and its division in Brazil to Grupo SBF, owner of the sporting goods store Centauro. The "strategic distribution partnerships" in South America, as Nike called them, are expected to close in mid-2020 and are intended to support "sustainable, profitable growth," the Oregon-based company said in a press release. In the third quarter this year, ho

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial