Nike Gives The Boot To Cole Haan In $570M Sale To Apax

Law360, New York (November 16, 2012, 3:10 PM EST) -- Sportswear giant Nike Inc. continued its streamlining campaign on Friday with an announcement that it will unload the Cole Haan LLC footwear and accessories fashion label to private equity heavyweight Apax Partners LLP in a $570 million cash transaction.

The Cole Haan divestiture makes good on a plan Oregon-based Nike announced in May to shed Cole Haan and the Umbro soccer clothing and footwear business as it narrows focus on its iconic flagship and Jordan brands, as well as its Converse Inc. and Hurley International LLC...
To view the full article, register now.