Adidas looking to sell CCM hockey brand
The German apparel giant is trying to find a buyer for its hockey equipment business amid slow sales. Two Canadian financial firms acquired Bauer, one of CCM's major competitors, earlier this year
HERZOGENAURACH, Germany—Apparel and sport equipment maker Adidas AG is looking to sell its CCM Hockey brand.
The company said it is looking for a buyer March 8 as it announced its 2016 earnings, which included a decline in sales at CCM.
The hockey equipment brand is based in Montreal and operates as a unit of Reebok—itself owned by Adidas. It sells a full range of ice equipment including skates, gloves and goalie masks.
The possible sale comes as part of a wider restructuring at Adidas. It sold off Rockport shoes in 2015, sports clothing maker Mitchell & Ness in 2016 and is also planning to sell several golf brands as it refocuses its business.
CCM has a long Canadian history, first opening its doors as a bicycle shop in west Toronto in 1899. Today it outfits some of the hockey world’s biggest stars, including Sidney Crosby and Connor McDavid.
The decision follows the sale of the competing Bauer brand to Canadian funds Power Corp. and Fairfax Financial Holdings. earlier this year. Bauer parent Performance Sports Group had filed for bankruptcy protection last spring.