NIKE acquired Umbro Plc for approximately $582 million (GBP 285 million), a transaction completed in March 2008, structured as all cash.
Umbro Plc operates in Football (soccer) brand (Umbro), is based in United Kingdom, had revenue of about approximately $276 million (GBP 149.5 million) in 2006. Leading United Kingdom-based global football (soccer) brand with more than 70 years of experience, listed on the London Stock Exchange, with close links to The Football Association and the England national team. Nike made an all-cash offer of 193.06 pence per share, valuing the company at approximately $582 million (GBP 285 million). Umbro's 2006 annual revenues were approximately $276 million (GBP 149.5 million).
The acquisition will significantly expand Nike's global leadership in football, a key growth category; since the early 1990s Nike has grown football revenues from about $40 million to approximately $1.5 billion.
A football brand with powerful heritage, close links to The Football Association and the England team, and presence in more than 90 countries — directly expanding Nike's leadership in soccer. Complementary strengths and multiple ways to segment and grow the global football market. Acquired by Nike's wholly-owned subsidiary NIKE Vapor Ltd.; operated as the Umbro brand.
Umbro is a brand with a powerful heritage and deep experience in the world's most popular sport and the world's biggest football market. This dynamic alignment of Umbro and NIKE, with our complementary strengths and numerous ways to segment and grow the market, will lead the game at every level throughout the world.Mark Parker, President and CEO, Nike, Inc.
This is an excellent deal for all our stakeholders: it provides great value for shareholders and exciting prospects for our colleagues, partners and customers around the world. We will be a stronger and better business as part of NIKE.Steve Makin, CEO, Umbro
Advisory firms were not disclosed for this transaction.