SRI completes acquisition of Dunlop brand rights
Sumitomo Rubber Industries, Ltd. (SRI) has completed the process of acquiring the Dunlop brand business of the UK based Sports Direct International plc (SDI). As announced on 27 December 2016, SRI reached an agreement with SDI to acquire their trademark rights to the Dunlop brand in various countries and territories, as well as SDI’s Dunlop sporting goods and licensing business, for the purchase price of US$137.5 million. The transaction was finalised on 3 April 2017.
The acquiring entity is Dunlop International Co. Ltd., a newly established joint venture between SRI and its sports business subsidiary, Dunlop Sports Co. Ltd.(DSP). Dunlop International Co. Ltd. will operate and manage the newly acquired sporting goods and licensing business while the Sumitomo Rubber Group as a whole continues working to create, implement and promote strategies to enhance the global value of the Dunlop brand and improve the overall profitability of the entire group, including this new business venture. sg