The adidas Group has agreed to purchase outdoor action sports brand Five Ten for $25 million.
The family-owned company, based in California and employing 37 people, had annual net sales in 2011 of €16 million, excluding distributor business in Japan and Korea.
Rolf Reinschmidt, senior vice president at adidas Outdoor, says: “Five Ten is a leading brand in the technical outdoor market and within the outdoor action sport community.
“Climbers, mountain bikers and other outdoor athletes around the world highly value their products.
“Five Ten has continuously been at the forefront of innovations and shares the same passion for athletes as we do at adidas.
“It represents an excellent addition to the adidas Outdoor portfolio and will allow us to expand into complementary market segments.
“This acquisition underscores our clear commitment to the outdoors and our ambition to play a leading role in the outdoor industry going forward. I am very much looking forward to working on this journey together with Charles Cole, founder and president of Five Ten.”
Charles Cole adds: “The deal provides exciting prospects for Five Ten.
“Supported by the adidas Group, we can finally reach the full potential that the ‘Brand of the Brave’ has to offer.
“Here at Five Ten, we like the philosophy of adidas’ founder Adi Dassler, with his focus on product quality and in doing whatever is necessary to give the athlete the advantage.
“adidas has the same principles of putting athletes and performance first that have guided Five Ten for nearly 30 years and we are thrilled to be partnering with them.”
