Shaq & ABG Buy Reebok for $2.5B

This one happened to breeze by us and we completely missed it. As last week, Shaq was an integral part of purchasing Reebok away from Adidas.

Apparently Shaquille O'Neal, who owns significant shares in Authentic Brands Group, had been pestering the company to buy Reebok, a brand he's had a long relationship with.

Shaq said in a statement, "As a longtime partner of Reebok and owner of ABG, it's a dream come true to welcome this legendary brand to the family."

President and CMO of ABG, Nick Woodhouse noted that Shaq was crucial to helping the company push through the acquisition process. In weekly conversations he would have with the former NBA player, Woodhouse stated that most convos started with O'Neal asking, "Have you bought Reebok yet?"

The $2.5B price tag adds Reebok to a large collection of brands under the company umbrella, including Juicy Couture, Brooks Brothers, Forever 21, and JC Penney.

Shaq will be working with the ABG team to introduce retro styles to a new generation of consumers.

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