Umbro found a buyer: Iconix Group

Umbro brand has announced yeasterday it is going to be purchased soon by Iconix Brand Group, Inc..

Image: Umbro

The American fashion conglomerate, license's owner of Badgley Mischka and Marc Ecko Enterprises Inc. brands, will buy the sportwear brand, famous for its "soccerwear", from Nike Inc., which decided to sell both its Umbro and Cole Haan businesses in order to focus exclusively on its lifestyle brands, Nike, Converse, Jordan and Hurley.

The buy-out deal is expected to close by the end of 2012 and it will cost Iconix Brand Group, Inc. $225 million. Actually it is the second acquisition deal between the two apparel giants, since Nike Inc. sold Starter brand to Iconix Brand Group, Inc. in 2007.