Nike do Brasil is sold to the group that owns Centauro for R$ 900 million

This Thursday, 6th, the SBF group announced the purchase of Nike from Brazil. The retailer, which owns Centauro, acquired the company's operations for R$ 900 million. According to the contract, the group will exclusively distribute Nike do Brasil products, that is, clothing items, shoes and also accessories. In addition, he will also control the company's website for at least 10 years.

The retailer will also be responsible for operating the company's physical stores. If it wants to open new units of the brand, it must do so within a period of 5 years. It is important to mention that Nike do Brasil's net income was around R$ 2 billion in the fiscal year ended on May 31, 2019. Want to know more about the acquisition of the SBF group? Then keep reading our article!

More details on the sale of Nike to the SBF group

It is important to make it clear that the purchase of Nike do Brasil does not give the retailer intellectual property rights over the brand. Even so, the group will benefit greatly from the acquisition. That's because he will be the brand's sole supplier in Brazil and will also be able to launch Nike releases on his platform. It is worth mentioning that, after the announcement, the retailer's shares rose by 11% and were traded at R$ 48.

The SBF stated that the acquisition value is still subject to readjustment. Even so, the group has already made it clear that part of the deal will be financed. It is necessary to wait, however, for the approval of regulators for the transaction to actually take place.

Nike didn't just negotiate its operations in Brazil. It also sold units in Argentina, Chile and Uruguay. The sale of subsidiaries in these countries was made to Grupo Axo, from Mexico. This company is the only distributor in Mexico and Chile of brands such as Calvin Klein, Hollister, Tommy Hilfiger and Victoria's Secret. The goal of these sales, according to Nike, is to drive sustainable and profitable growth.

Final considerations

Having said that, we News Report we hope to have clarified the main information regarding the sale of Nike for the SBF Group. Comment what you thought of the business carried out by the two companies and if you usually buy the North American brand's products. In addition, keep following our website for news about the economy of the country and the world.

Source: G1