Nike To Unload Umbro Brand In $225M Sale To Iconix

Law360, New York (October 24, 2012, 1:52 PM EDT) -- Nike Inc. has found a new home for its Umbro brand in New York-based Iconix Brand Group Inc., which said Wednesday that it will pay $225 million for the soccer apparel line as Nike sheds certain assets to focus on its most profitable units.

The deal comes four months after Nike unveiled plans to drop Umbro and another of its segments, the Cole Haan leather footwear line, to invest more in its world-renowned flagship brand, as well as the Jordan, Converse and Hurley names.

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