Kukla's Korner Hockey
by George Malik on 09/21/07 at 09:08 AM ET
from PR Newswire via CNN:
[Nike] also announced today its intent to explore the sale of Nike Bauer Hockey. Following a strategic review of the company’s affiliate brands portfolio, Nike determined that despite the strength of the business, Nike Bauer Hockey does not align with the Company’s long-term growth priorities and exploring a sale is the best strategic alternative. The Company expects the exploration process and any potential sale that maximizes Nike Bauer Hockey’s value to Nike will be completed within the current fiscal year.
Commenting on the anticipated sale, Parker said: “We are focused on investing our resources where we will achieve the greatest returns, both within the Nike brand and within a strong portfolio of complementary affiliate brands. We’re confident it’s the right choice for our Company as we maximize our opportunities and drive toward our long-term growth targets. Given Nike Bauer’s market leading position, we believe we will be able to effectively execute this transaction.”
continued... NikeBauer is one of hockey’s heaviest hitters, so this is going to get more and more interesting as time goes on.
added 12:16pm, The Hockey News has more on this, stating it could be sold by May 31, 2008.
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