The FINANCIAL — adidas announced on September 4 that as of September 1 it has formally completed the previously announced divestiture of its CCM ice hockey business to a newly formed affiliate of Birch Hill Equity Partners.
The divestiture of CCM Hockey does not impact the company’s financial outlook for the current year. In addition, the strategic divestiture of the ice hockey brand has already been reflected in the company’s updated long-term outlook as provided in March 2017, according to adidas.
Headquartered in Montréal, Québec, CCM is one of the world’s largest designers, manufacturers and marketers of hockey equipment and related apparel.
Robert W. Baird & Co. acted as exclusive financial advisor to adidas AG and Stikeman Elliott LLP served as lead legal counsel.