Nike To Unload Cole Haan, Umbro Brands

Law360, New York (May 31, 2012, 3:15 PM EDT) -- Nike Inc. on Thursday announced it will drop two of its wholly owned affiliates, leather footwear line Cole Haan and soccer apparel-centric Umbro, to hone its focus on other segments of its business, including its namesake brand.

The divesting process will start right away, according a Nike statement, which did not name prospective buyers or the price tags attached to the assets. The company expects to close the sales by the end of May 2013.

Mark Parker, CEO of the Beaverton, Ore.-based athletic apparel giant, said...
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