(The Globe And Mail, March 8, 2017) - Adidas has decided to sell the CCM Hockey brand. The announcement was made March 8 when it reported its fourth-quarter and year-end results for 2016.
Adidas reported a 14.3 percent decline in net sales for CCM Hockey in 2016 compared to a year earlier. CCM also had a bigger drop of 21.6 percent in the fourth quarter compared to same period in 2015.
CCM Hockey president Philippe Dube told The Globe and Mail of Toronto that it is a "great opportunity" to increase equipment market share. Adidas said in its 2016 annual report that it has a multiyear plan to renew its focus on athletic footwear and apparel and it plans to continue breaking away from unrelated business lines, which it announced it would do with Mitchell & Ness, TaylorMade, Adams Golf and Ashworth.
"We're already very happy that we're going to report to a new owner that will be more invested in this equipment category, and will help us continue to drive the brand, and to invest in R&D and operating efficiencies," Dube said.
Dube said CCM plans to keep its headquarters in the Montreal area and is optimistic about a sale.
"In the past few months, if not years, I've received so many phone calls about, 'When are you guys going to be on the market?'" Dube said. "We are an attractive company, an attractive brand for a number of people."
Click here to read the full story in The Globe And Mail.