Nike to Acquire Umbro

10/25/2007

Nike Inc. reaches agreement on an all-cash offer to acquire Umbro plc, a United Kingdom-based global football (soccer) 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," says Nike, Inc. President and CEO Mark Parker. "With its close links to The Football Association and the England team, Umbro's future is even stronger than its past. 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. We are fully committed to helping Umbro reach its full potential, and we are delighted that Umbro's board is unanimous in its support of our offer." Nike intends to operate Umbro as a stand-alone affiliate brand, with a focus on accelerating the brand's existing growth strategy.