Helping Nike Manage Its Brand Portfolio
NIKE Inc.'s portfolio of subsidiary brands contributes over $2 billion in annual revenues to the company's bottom line and the opportunity for substantial future growth. When this sportswear giant decided to sell its Nike Bauer Hockey subsidiary, it turned to Tonkon Torp to help guide the sale to a successful conclusion.
Nike tapped Tonkon Torp for help with the myriad issues that arose throughout the divestiture process. Tonkon Torp assembled a team of corporate, tax, intellectual property, real estate, and employment attorneys to assist with the $200 million cash sale to an investor group led by Kohlberg & Company and Canadian businessman W. Graeme Roustan.
The company also recently called on Tonkon Torp attorneys to assist with the sale of its Official Starter brand to Iconix Brand Group, Inc. The transaction was completed successfully with Official Starter selling for $60 million.
Tonkon Torp has worked with Nike on many of its most significant acquisitions and divestitures -- including the purchase of Cole Haan, Nike Bauer Hockey, Converse, Hurley and Official Starter, and the sale of Official Starter and Nike Bauer Hockey -- since assisting Nike with its initial public offering in 1980. Our long term relationship with Nike, our business intelligence, and our broad and deep legal experience have helped Nike to finance and build its brand portfolio throughout the last three decades.
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