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Sumitomo Rubber Completes Acquisition of DUNLOP Brand Business from Sports Direct International
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Sumitomo Rubber Industries, Ltd. (SRI) is pleased to announce that we have completed the process of acquiring the DUNLOP brand business of the UK based Sports Direct International plc (SDI). As we announced on December 27, 2016, we recently reached an agreement with SDI to acquire their trademark rights to the DUNLOP brand in various countries and territories, as well as SDI's DUNLOP sporting goods and licensing business, for the purchase price of USD 137.5M. The transaction was finalized on April 3, 2017 (Greenwich Mean Time).
The acquiring entity is Dunlop International Co. Ltd., a newly established joint venture between SRI and our sports business subsidiary, Dunlop Sports Co. Ltd.(DSP).
Dunlop International Co. Ltd. will operate and manage the newly acquired sporting goods and licensing business while the Sumitomo Rubber Group as a whole continues working to create, implement and promote strategies to enhance the global value of the DUNLOP brand and improve the overall profitability of our entire group, including this new business venture.
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| Sports Direct International Company Profile |
| | Head Office | : | Shirebrook, U.K. |
| Sales | : | GBP2.9 billion (FY Apr. 2016) |
| Businesses | : | Retail Sales of Sporting Goods, Licensing of sporting goods brand |
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| Dunlop International Company Profile |
| | Establishment | : | February 1, 2017 |
| Head Office | : | 3-6-9 Wakinohama-cho, Chuo-ku, Kobe, Japan |
| Representative | : | Hidekazu Nishiguchi |
| Capital | : | JPY 3 billion |
| Businesses | : | Overseas DUNLOP Sporting Goods Business etc. |
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| Shareholders and Ownership Ratios : SRI : 66.7%, DSP : 33.3% |
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